Nearly 70,000 billion VND of corporate bonds are delayed in payment, 57% comes from real estate

The bond market report of MB Securities Company (MBS) shows that, in the first 7 months of this year, the total value of corporate bonds that are late in fulfilling payment obligations (late payment of principal and interest) is estimated at VND69,000 billion, accounting for about 6.1% of outstanding corporate bond debt of the entire market, of which the real estate group accounts for the highest proportion at 57%. The trade and service group is 7%, the construction group is 4%, the energy group is 2% and 29% is other sectors.

Regarding bond issuance, in the first half of August 2025, the market recorded 10 new issuances with a total issuance value of VND 9,320 billion.

According to the Vietnam Bond Market Association, from the beginning of the year to the date of information announcement on August 15, the total value of corporate bond issuance was recorded at VND323,141 billion, with 17 public issuances worth VND41,453 billion (accounting for 12.8% of the total issuance value) and 250 private issuances worth VND281,688 billion (accounting for 87.2% of the total).

In the remainder of 2025, the total value of bonds due will be nearly VND98,000 billion. Of which, 52.8% of the value of bonds due to mature belong to the Real Estate group with VND51,681 billion, followed by the Banking group with VND26,781 billion (accounting for 27.3%).

Regarding bond issuance in the first 7 months of the year, MBS's report shows that the market has new developments.

Specifically, after 4 consecutive months of increase, the issuance of new corporate bonds in July showed signs of slowing down when the successful issuance value decreased by 60.1% compared to the previous month. Specifically, the market recorded 42 new issuances with a total estimated issuance value of more than VND 50,000 billion. In particular, the scale of new issuance of the Real Estate and Non-Banking sectors decreased sharply by 63% and 56% respectively compared to the previous month. However, the issuance value in July still increased by 22.2% over the same period. In particular, the Banking group continued to be the driving force with an issuance value of more than VND 39,100 billion (up 15% over the same period), accounting for 78% of the total issuance value.

In the first 7 months of the year, the total value of corporate bonds increased by 76.6% over the same period. Of which, banking is the industry group with the highest issuance value (accounting for 75% of the total issuance value). Real estate ranked second, accounting for 15%.

Regarding the bond issuance plan in the third quarter of 2025, according to the announced information, the Board of Directors of Saigon - Hanoi Commercial Joint Stock Bank has approved the plan to issue individual bonds in the third quarter of 2025 with a maximum total value of VND 5,000 billion. These are non-convertible bonds, without warrants, without collateral. In addition, the Board of Directors of Vinhomes Joint Stock Company has also approved the plan to issue individual bonds in 2025 with a maximum total value of VND 8,000 billion. These are non-convertible bonds, without warrants, with collateral and an expected face value of VND 100 million/bond.

Source: https://baodautu.vn/gan-70000-ty-dong-trai-phieu-doanh-nghiep-bi-cham-tra-57-den-tu-bat-dong-san-d365637.html