Creditor slams Vinalines debt-for-equity proposal

PV Combank, a Hanoi-based financial institution that holds VND 1.7 trillion ($78m) of Vinalines’ debt, has sent signals to the market that it is not keen on a recent proposal made by Vietnam’s Joint Stock Commercial Bank for Industry and Trade of Vietnam (VietinBank) to swap debt for equity ahead of Vinalines’ initial public offering (IPO) planned for next year.

Financial