The toughest time for corporate bonds, when issuers had to negotiate with bondholders over numerous sticky issues, including buying back such debt, is now over. However, challenges are still there to cope with, especially the eroded confidence in the market. Leaving the nightmare behind Corporate bonds worth as much as VND247.59 trillion were issued in January-November this year, almost touching the total value of VND255 trillion in the entire 2022, according to a report from the Vietnam Bond Market Association. The final month of this year will likely see more successful bond issues to mark an increase in the total value of bond issues since the crisis is still fresh in one’s mind. In November alone, there were 27 bond issues via private placement with a total value of VND27,468 billion, with an average term of 5.64 years and an average annual coupon of 8.6%. This value was a bit lower than that in October but 14 times higher year on year. In fact, bond issues almost ground to a dead halt between October last year and February this year after irregularities at Van Thinh Phat Holdings Group Corporation related to corporate bond issues were uncovered in September. This year, […]
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