First Mutual CEO Shaun Morgan assists in approval of $190 million bond issue for Vietnam water impro

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 7, 2007 -- A two-year study by First Mutual Credit helped lead to the approval of a historic USD 150 Million corporate revenue bond issue to fund water and wastewater infrastructure improvements in Hanoi
The study developed by First Mutual Credit Corporation included in-depth analyses of the overall financial, legal and regulatory elements of the bond funding project.
The bond issue approval for the Hanoi Water Assets Operation and Development Company, Ltd. marked the first time a water company in the Hanoi, Vietnam has issued bonds.

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First Mutual CEO Shaun Morgan assists in approval of $190 million bond issue for Vietnam water impro

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"This successful bond issue will help enhance the water services in Hanoi in a very timely manner," said Shaun Morgan First Mutual Credit CEO. "It also is an important step in creating a financial platform for increasing foreign investment and trade with the Vietnam."
Water companies in Vietnam have historically financed improvements to their infrastructure through a combination of short-term bank loans, government grants and cash. The new HWAOD corporate bonds will accelerate infrastructure improvements by making funds available in a shorter timeframe. The corporate bonds are set at 4.25 percent interest rate with a 15-year maturity. During the next 10 years the HWAOD expects to invest $3 billion to $4 billion in its water and wastewater infrastructure in Hanoi.

"The staff of the HWAOD demonstrated a high level of expertise in utility operations and management. This was a key factor in the successful completion of our study and in this historic bond issue being implemented," Shaun Morgan added.
First Mutual is an international, specialist investment banking group that provides a diverse range of financial products and services to a select client base.

Founded as a online securities company in 2000, we have acquired various regulated entities and competitors in a bid to become a premium underwriting investment bank and global financier. We now have more than 10 wholly owned subsidiaries in 7 different country’s varying from Securities Dealing, Coal Mining Management, Timber Plantation Management, Retail Investment Banking, Private Fund Management, Stock-broking Services, Foreign Exchange Trading and Project Underwriting. The total issued capital of First Mutual is US$120,000,000.00
Since inception, we have expanded through a combination of substantial organic growth and strategic acquisitions. Today, we have an efficient integrated international business platform, offering all our core activities in New Zealand , Australia , Singapore , Indonesia , Germany and U.S.A, with approximately 400 employees.

We are organized as a network comprising eight business divisions: Private Client Activities, Treasury and Specialized Finance, Investment Banking, Asset Management, Project Underwriting, Foreign Exchange Trading and Retail Stock-Broking. Our head office provides group-wide integrating functions and is also responsible for central funding and the Trade Finance business.
Our strategic goals and objectives are based on an aspiration to be recognized as a distinctive specialist investment banking group. This distinction is embodied in our entrepreneurial culture, which is balanced by a strong risk management discipline, client-centric approach and ability to be nimble, flexible and innovative. We do not seek to be all things to all people and aim to build well-defined, value-added businesses that serve the needs of select market niches where we can compete effectively.

Media Contacts:
Jay Leisenberg
First Mutual Credit

8664003271



CONTACT INFORMATION

Jay Leisenberg
First Mutual Credit
j.leisenberg@firstmutualcredit.com
8664003271

More information can be found online at http://www.firstmutualcredit.com

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