Temasek investing in convertible bonds in Vietnam group

SINGAPORE, (July 27, 2010) - Vietnam's HAGL Group plans to sell convertible bonds worth 1.1 trillion dong or about US$57.6 million to Singapore's sovereign wealth fund Temasek Holdings.

The group, based in Vietnam's Central Highlands, said it is taking steps toward the bond issue, Channel News Asia reported.

Proceeds, together with profits from property investments, would go toward expanding its business and ensuring a safe debt ratio.