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Sunday, July 21, 2024

No property firms issued debt last month

By V.Dung

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HCMC – After Tan Hoang Minh’s nine bond issues had been canceled and its senior executives detained over this matter, and the Government had called for measures to cope with real estate firms’ debt issues, no property firms issued bonds in April.

Last month saw 23 bond issues worth nearly VND16.5 trillion launched, with 90.7% of them conducted by banks and the remainder by energy, transport, manufacturing and finance firms, according to the Vietnam Bond Market Association.

Banks issued bonds worth VND14.94 trillion in April. Of which, Military Commercial Joint Stock Bank (MBBank) was the largest debt issuer with VND4.6 trillion, followed by Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) with VND2.5 trillion.

In March, real estate enterprises led in terms of the value of debt issues, accounting for 46.7% of the total. In the year to end-April, they still took the lead with VND28.85 trillion, making up 37.35% of the total debt issued, followed by banks with nearly VND24.4 trillion.

The Vietnamese corporate bond market has boomed over the past five years, expanding 42% per year on average and accounting for some 15% of the country’s gross domestic product.

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