This will be the first of many rounds, the bank said. The bonds have a nominal interest rate of 6.25 percent, are non-convertible, unsecured and listed on the Singapore Stock Exchange (SGX).

Asian and European buyers accounted for 52 percent and 48 percent of the total issue value, respectively.

The proceeds will help diversify sources to fund medium and long-term loans, the bank stated.

According to a VPBank representative, this was the biggest issue of bonds a private Vietnamese enterprise has carried out on the international market. 

VPBank plans to issue a total of $1 billion worth of international bonds between 2019 and 2020 in multiple rounds, but has not said when the next rounds will take place.