Vietnam plans $1 billion bond sale

K1CAN19AJCVietnam plans to raise $1 billion by selling dollar-denominated bonds in international markets later this year, a government official familiar with the matter said on September 3.

“We are planning to conduct a roadshow soon so that the bond sale can take place at the end of the third quarter or early in the fourth quarter,” the official, who didn’t want to be named because he is not authorised to speak to the media, told The Wall Street Journal.

Chief of the Government Office Nguyen Van Nen told local media the week before that the government is considering issuing dollar-denominated bonds but didn’t provide further details.

Vietnam last raised $1 billion through a 10-year bond sale in January 2010, offering a yield of 6.95 per cent. The money raised was for state-owned companies’ refinery, ship purchasing and power plant projects.

“The conditions are now good for Vietnam to raise funds from the international market at a lower cost,” the official said, adding that most of the money raised this year would be used to repay the government’s due debt.

He said the recent move by Moody’s Investors Service to upgrade Vietnam’s ratings may help this year’s bond sale.

Moody’s in July raised Vietnam’s senior unsecured and issuer bond ratings by one notch, to B1 from B2, with a stable outlook, citing the country’s emerging track record of macroeconomic stability.

 



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Vietnam plans to raise $1 billion by selling dollar-denominated bonds in international markets later this year, a government official familiar with the matter said on September 3. “We are planning to conduct a roadshow soon so that the bond sale can take place at the end of the third quarter or early in the fourth quarter,” the official, who didn’t want to be named because he is not authorised to speak to the media, told The Wall Street Journal. Chief of the Government Office Nguyen Van Nen told local media the week before that the government is considering issuing dollar-denominated...

K1CAN19AJCVietnam plans to raise $1 billion by selling dollar-denominated bonds in international markets later this year, a government official familiar with the matter said on September 3.

“We are planning to conduct a roadshow soon so that the bond sale can take place at the end of the third quarter or early in the fourth quarter,” the official, who didn’t want to be named because he is not authorised to speak to the media, told The Wall Street Journal.

Chief of the Government Office Nguyen Van Nen told local media the week before that the government is considering issuing dollar-denominated bonds but didn’t provide further details.

Vietnam last raised $1 billion through a 10-year bond sale in January 2010, offering a yield of 6.95 per cent. The money raised was for state-owned companies’ refinery, ship purchasing and power plant projects.

“The conditions are now good for Vietnam to raise funds from the international market at a lower cost,” the official said, adding that most of the money raised this year would be used to repay the government’s due debt.

He said the recent move by Moody’s Investors Service to upgrade Vietnam’s ratings may help this year’s bond sale.

Moody’s in July raised Vietnam’s senior unsecured and issuer bond ratings by one notch, to B1 from B2, with a stable outlook, citing the country’s emerging track record of macroeconomic stability.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00