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Sunday, June 16, 2024

New hopes for corporate bond market

By Van Phong

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The trading system for privately-placed corporate bonds, which was introduced on July 19, is anticipated to improve liquidity on the corporate bond market. This is a positive step but there are still several measures that need to be implemented before the market is back on track. Bond offerings via private placement still lackluster Bond sales via private placement continue to be poor. The past year has seen fluctuations in the market, impacting investor sentiment. Many companies have struggled to repay debts, leading to a decline in new bond issues. In the second quarter of this year, there were only 29 corporate bond issues totaling nearly VND19.3 trillion. This represents a significant drop of 34.4% compared to the first quarter and a staggering 83.1% decline from the same period in 2022. Out of these debt sales, 28 were via private placement, accounting for around VND17.3 trillion, which makes up 89.6% of the total issuance value. For the first half of 2023, the total value of corporate bond sales was around VND48.7 trillion, down a hefty 73.3% compared to the same period in 2022. Bonds offered via private placement accounted for VND42.8 trillion, down 75.6% year-on-year. While there was a surge in […]
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