The bond, bearing a fixed annual coupon of 5.5%, is credit-enhanced by the Credit Guarantee and Investment Facility (CGIF) - a trust fund of the Asian Development Bank (ADB). The deal attracted robust investor demand, with orders from leading insurance companies totaling twice the offering size.

All proceeds will fund the construction of CCS Hanoi in the Starlake urban area. The project is a core pillar in CMC’s AI and digital transformation strategy, providing infrastructure for data center, cloud, and AI-as-a-Service offerings.

BNP Paribas acted as the issuance advisor, with VietinBank Securities serving as the issuing agent. The bond features a periodic principal amortization structure, designed to smooth out cash flows and mitigate refinancing risk at maturity.

CGIF is backed by the governments of the ASEAN+3 countries (ASEAN, China, Japan, and South Korea) and ADB, with a mandate to deepen local-currency bond markets in the region. Its credit guarantee enabled CMC to achieve long-tenor funding from domestic investors while reinforcing confidence in its financial and operational capacity.

“We are guaranteeing CMC’s first local-currency bond issuance to help the company diversify its investor base and secure long-term funding for the CCS Hanoi digital-infrastructure project,” said Mr. Hongwei Wang, Chief Executive Officer of CGIF.

Founded in 1993, CMC is Vietnam’s second-largest listed technology company (Forbes Vietnam 2024–2025). With four strategic pillars - Technology & Solutions, Digital Infrastructure, Global Business, and Research & Education - CMC leads digital and AI transformation initiatives for enterprises and organizations.

Under its AI-X and Go Global strategy, CMC is scaling up its ecosystem of digital products and services with deep investment in data, cloud computing, and hyperscale data centers.

Among its flagship projects is C-OpenAI, a platform built on 25 proprietary core technologies - including large language models, computer vision, voice processing, datalakehouse architecture, intelligent search, and cybersecurity - positioning CMC to co-create industry-specific AI solutions.

“CGIF’s partnership enables CMC to secure long-term funding in Vietnamese dong to develop CCS Hanoi - our data center and engineering workspace infrastructure designed for high-performance AI compute,” said Mr. Nguyen Trung Chinh, Chairman of the Board and Executive Chairman of CMC.

“This is the foundation for us to deliver DC/Cloud/AI-as-a-Service solutions, accelerate enterprise AI adoption, and contribute to the digital economy. CGIF’s support signals trust in CMC’s AI-X strategy, international growth vision, and financial resilience,” he said.

CGIF’s involvement in guaranteeing the 10-year VND bond reflects global investor confidence in CMC’s credit profile, project execution capability, and commitment to ESG standards. The guarantee not only mitigates risk for investors but also affirms CMC’s strengths in governance, transparency, and sustainable operations - paving the way for future capital-market transactions.

Ms. Loan Pham, Chief Representative of BNP Paribas in Vietnam, said the transaction was structured to meet both the issuer’s funding needs and the market’s expectations for transparency and long-term local-currency instruments: “Investor interest shows that Vietnam’s digital infrastructure and AI investment thesis is well grounded and compelling.”

The CCS Hanoi project - formerly known as CMC Starlake - received approval from the Hanoi People’s Committee for developer change in June 2023. Located on plot B2CC3 in the Starlake West Lake West urban area, the site covers 1.13 hectares and has a total investment plan of VND 2,181 billion ($89.8 million). Groundbreaking began on June 1, 2025, with completion targeted for December 31, 2026.

CMC stated that the bond proceeds will be allocated to high-spec data center components - such as power, cooling, security, and redundancy - as well as workspace for engineering teams, all aimed at enabling enterprise-grade DC/Cloud/AI services.

In its latest financial report, CMC showed strong performance. For the first half of fiscal year 2025 (ending September 30, 2025), the company recorded revenue of VND4,630 billion (around $190.6 million), a 16.3% year-on-year increase. Profit before tax reached VND273 billion ($11.2 million), up 37% year-on-year. In Q2/2025 alone, profit after tax grew by 49% year-on-year.

Growth across all business segments - Technology & Solutions, Global Business, Digital Infrastructure, and Research & Education - demonstrates the company’s operational effectiveness and cost control. These results, combined with the bond issuance, further strengthen CMC’s financial position and expand its capacity to implement strategic infrastructure projects such as CCS Hanoi and CMC Hyperscale DC Ho Chi Minh City.

PV