Companies collect $1.7 billion via bond issuance in August

Ha Noi Stock Exchange, bond issuances, Ha Noi Stock Exchange, bond issuances, Banking,
The Sun Avenue, a condo project developed by real estate company Novaland in HCM City's District 2. Novaland mobilised VND2.2 trillion of bonds in August. — Photo novaland.com.vn

Companies collected a total of VND38.4 trillion (US$1.7 billion) via bond issuances in August, according to statistics from the Ha Noi Stock Exchange (HNX).

The average bond maturity was 3.97 years. Three-year bonds accounted for the largest proportion with an issued value of VND22.6 trillion, followed by five-year bonds with VND5.1 trillion and two-year and 10-year bonds with issued values of VND3.2 trillion and VND3.08 trillion, respectively.

Real estate was the largest issuing group with a total issued value of VND11.7 trillion, equivalent to 30 per cent of the total issued value of the market. Credit institutions ranked second with VND10.03 trillion, equivalent to 26 per cent.

Sovico Group JSC and Saigon Glory Co Ltd were the two largest single collectors in August as they both mobilised VND5 trillion.

Masan Group JSC collected nearly VND4.1 trillion, VPBank earned VND2.5 trillion and LienVietPostBank raised the same amount.

Novaland mobilised VND2.2 trillion, FE Credit collected VND1.9 trillion and the Bank for Investment and Development of Viet Nam attained VND1.9 trillion. Phu Long Real Estate JSC earned VND1.8 trillion and Thanh Cong Trading Services Investment and Construction Company Limited mobilised VND1 trillion.

In the first eight months of this year, VND237.7 trillion was mobilised by enterprises via bonds.

The corporate bond market is expected to flourish in the third quarter a d then step back in the fourth quarter in anticipation of regulatory amendments which will impose restrictions on bond trading from early September.

Since the beginning of this year, the Ministry of Finance has issued warnings about risks which might arise from the abuse of this capital-raising channel, giving out recommendations to investors and market participants.

The ministry has made public a draft decree to amend several points of Decree 163/2018/ND-CP about corporate bond issuance for comments, which includes amendments of conditions for corporate bond issuance, rates, issuance in domestic and international markets, information disclosure and reporting mechanisms.

The draft has been submitted to the Government and is expected to take effect in early September.

Under the draft, regulations about bond yields and bond transactions would be tightened. — VNS

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