Vietnam's State Treasury will sell 700 billion dong ($43.4 million) of government bonds at an auction this month, it told the over-the-counter Hanoi stock market on Friday.
A market statement said the State Treasury would sell the five-year bonds on July 26 and issue the debt on July 30.
At the last auction on July 9, the State Treasury sold 600 billion dong in five-year bonds with an annual coupon of 7.4 percent, up from 7.25 percent on a five-year bond sold in late June.
The Hanoi market also said it would offer separate five-year government bonds on July 20 for maturity on July 24, 2012. It did not specify the value. These belong to a large-lot government bond type that carries an annual coupon of 7.4 percent.
The Finance Ministry wants to sell 22 trillion dong ($1.37 billion) of bonds this year to invest in transport and irrigation projects.
The Hanoi market has so far this year auctioned a combined 8.74 trillion dong ($542 million) of government bonds, bonds issued by the Vietnam Development Bank and Ho Chi Minh City urban bonds.
In March Moody's upgraded the outlook both for Vietnam's foreign currency bonds and local currency bonds to positive from stable. It assigned a Ba3 rating for the country's dong debt.
Source: Reuters
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