HCMC – Vietnam’s corporate bond market saw no new issuances in February, marking a quiet month for bond sale activity, according to data from the Vietnam Bond Market Association (VBMA).
During the month, businesses redeemed nearly VND2.6 trillion worth of bonds before maturity, down by 58% compared to the same period in 2024, according to local media reports.
In the rest of 2025, VBMA estimates that around VND192.3 trillion worth of corporate bonds will fall due, with the real estate sector holding the largest share at VND107.2 trillion, accounting for 54% of the total.
The VBMA report also highlighted one delayed interest payment of VND39 billion in February.
On the secondary market, the total transaction value of privately placed corporate bonds reached VND73.49 trillion last month, averaging nearly VND3.7 trillion per session, a 22% decline from January’s average.
Despite the sluggish activity in February, a recent report by Vis Rating noted a strong recovery in Vietnam’s corporate bond market in 2024. The crisis of 2022–2023, which saw a sharp increase in delayed bond payments, showed signs of easing. The number of issuers delaying payments for the first time dropped to 21 in 2024, compared to 79 issuers in 2023.
Total bond sales last year amounted to VND472 trillion, up by nearly 40% from the previous year, signaling renewed investor confidence.
Experts believe the amended Securities Law, which took effect in early 2025, will improve market transparency and support the sustainable growth of the corporate bond market. The new regulations tighten bond issuance and investment requirements while encouraging the use of credit ratings to better assess investment risks.
