Vietnam’s bank bond issuance surges 140 pct

HANOI, Aug. 13 (Xinhua) — Vietnam’s bank bond issuance has surged to 96.2 trillion Vietnamese dong (3.8 billion U.S. dollars) this year, a surge of 140 percent from last year, Vietnam News cited MB Securities on Tuesday.
The bonds have an average interest rate of 5.4 percent and maturity of four years.
The hike in bond issuance is expected to enhance the banks’ capacity for medium- and long-term capital, supporting credit in the second half of the year.
Total corporate bond issuance in Vietnam has surpassed 169 trillion dong (6.7 billion dollars) this year, with nearly 11.8 trillion dong (469.6 million dollars) issued publicly and 148.9 trillion dong (5.9 billion dollars) privately, according to the Vietnam Bond Market Association. ■