The Vietnamese government has raised 300 billion VND (18.8mio US$) through a bond issue on the Hanoi Securities Trading Center.
The five-year bonds, oversubscribed by nearly seven times, have a face value of 100,000 VND and a coupon of 8.2% per annum.
They will be issued on January 24 and listed in both Hanoi and Ho Chi Minh City.
The Ministry of Finance said recently it was restructuring the bond market to boost liquidity and transparency to attract investors and ensure funds for an economy growing at 8% a year.
Too many types of government bonds were now listed on the stock market and their small, fragmented nature limited the market’s development.
Starting this year, government bond issues would be larger and be traded on the Hanoi over-the-counter market.
The government planned to raise 500mio US$ to 1 billion US$ on the global bond market in the first quarter of this year, more than a year after raising 750mio US$ in its first sovereign bond issue.
The proceeds of the bond, with a maturity of 10 or 20 years, would be allocated to several companies, including Electricity of Vietnam, which too plans to issue global corporate bonds to raise 150mio US$.
Source: Thanh Nien
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