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Saturday, April 1, 2023

January sees no corporate bonds issued

The Saigon Times

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HCMC – The corporate bond market remained bleak last month, with no single bond issued, according to the Vietnam Bond Market Association (VBMA).

Data from the VBMA showed corporate bond sales plunged to zero in the first month of the new year. The bond issues which businesses announced in January were actually conducted in the previous month.

The total value of these issues topped VND13.9 trillion, with about 97% of it raised by banks.

Corporate bonds worth over VND285.1 trillion are expected to fall due this year.

Enterprises redeemed corporate bonds worth over VND8 trillion, up 56% over the same period in 2022.

Last year, securities market fraud dampened investor confidence, making it greatly difficult for debt-ridden companies to sell bonds.

The Ministry of Finance will submit a draft decree amending Decree 65/2020 on corporate bond trading via private placement this week, said Deputy Finance Minister Nguyen Duc Chi.

The decree aims to improve transparency in the market, protect investors’ interests, and accelerate the market’s recovery.

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