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Tuesday, June 18, 2024

Corporate debt sales plummet in April

By N.Tan

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HCMC – The corporate bond market has remained lackluster, with nearly VND2.62 trillion in corporate bonds issued in April, representing a mere 10% of the total recorded in March, according to the Vietnam Bond Market Association (VBMA).

VBMA saw no new corporate debt issued in the first five days of May.

The total value of corporate debt issued in the year to date has reached nearly VND31,700 trillion.

As of May 6, all the bond buybacks that businesses announced in May were conducted in the previous month. Enterprises redeemed over VND49.5 trillion of their corporate bonds, up 48% over the same period last year.

Corporate bonds worth over VND21.4 trillion are expected to fall due in May.

Some industries with a large volume of corporate bonds falling due comprise the real estate sector with bonds worth VND9,600 trillion, the consumer goods sector with VND3,700 trillion, and the banking sector with VND2,500 trillion.

Eight companies announced to delay their payments of principal and interest for their bonds, with a total value of VND1,200 trillion.

Six other companies have announced their restructuring plans, primarily by extending the bond maturity by three to 24 months compared to the original term.

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