HCMC – More than 80 companies had failed to make their bond coupon or principal payments in the year to mid-July, according to the Hanoi Stock Exchange (HNX).
These firms collectively owe around VND190 trillion, representing nearly 19% of the total market debt.
The real estate sector accounts for most of the delayed payments, likely due to cash flow issues, said the securities firm VNDIRECT.
In the first half of 2024, overdue principal payments surpassed VND11 trillion, making up 11% of the total maturity value. The combined total of overdue principal and extended maturity bonds is VND43.5 trillion, which is 43.5% of the total value.
As of July 15, more than 90 issuers had negotiated with bondholders to extend bond maturities, with reports submitted to the HNX.
VNDIRECT reported that the total value of extended maturity bonds exceeds VND151 trillion. Bonds due in the first half of 2024 accounted for over VND32.5 trillion of this amount, representing 21.5% of all extended bonds.
Despite these challenges, the second quarter of 2024 saw 119 successful corporate bond issuances, totaling VND119.27 trillion. This marks a 4.1-fold increase from the first quarter and is nearly three times the amount issued during the same period last year.
