Vietnam raised 1 trillion dong ($62 million) from two auctions of government bonds this month, 700 billion dong short of its target, the Hanoi stock exchange said on Monday.
The exchange said in one auction of 1 trillion dong on June 18, only half the issue, which carries a maturity of 15 years and was issued the Vietnam Development Bank, was sold.
Bids came in between 7.9 and 10 percent and the bonds were sold at an annual yield of 8 percent, the exchange said.
The statement said in another auction on June 25, 500 billion dong of 700 billion 5-year bonds offered by the State Treasury were sold at an annual coupon of 7.25 percent. Bids ranged from 7.15 percent to 8 percent.
On June 14, the Hanoi market sold 500 billion dong ($31 million) worth of Ho Chi Minh City's urban bonds. The yield on a five-year bond, worth 150 billion dong, was 7.8 percent while the 15-year bond carried yield of 8.25 percent.
The Finance Ministry aims to sell 22 trillion dong ($1.37 billion) worth of government bonds between March and the end of this year to invest in transport and irrigation projects.
In March, Moody's upgraded the outlook for both Vietnam's foreign currency bonds and local currency bonds to positive from stable. It assigned a Ba3 rating for the country's dong debts.
Source: Reuters
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