Vietnam-based Vingroup (HOSE:VIC) is gearing up for a private placement of Korean won-denominated bonds as it seeks to diversify its access to international capital, Bloomberg News reported Wednesday, citing a company official.

The three-year bond could be worth as much as 400 billion won ($292 million), although the size and terms remain subject to change. Shinhan Securities Vietnam, KB Securities and Kiwoom Securities are working on the proposed deal, with Shinhan and Kiwoom confirming their participation.

Proceeds will be used for general corporate financing needs, the news outlet said.

Vingroup did not immediately respond to MT Newswires' request for a comment.