https://www.reddit.com/r/VinFastCommunity/comments/15joami/vinfast_cannot_raise_more_money_and_vingroup_is/

Vinfast cannot get a loan by themselve. No one lend them any more.

Therefore, Vingroup is to raise money using its brand and then loan the money to Vinfast!

$421 mil in bond in Vietnam dong, at the cut throat 15% per year, without collateral, without conversion. They have put all their stocks as collateral and have no stocks left. No institutional investor is going to buy such no-collateral bonds so Vin intend to dump this on less sophisticated retail investors, many of whom are old and not financially astute to know the risks and are lured by the high rate.

The chairman's money promised in March/April is no where to be found.

That amount of money is barely enough for Vinfast to pay due loans from now til the end of the year. Not for operation, not for the new factory. Without the money, Vinfast will default on the bonds about to be due.