Facing a capital shortage at the end of the year, businesses are accepting bond interest rates as high as 13.5%.

(Dan Tri Newspaper) - As the year draws to a close, the demand for capital increases, leading many businesses to raise additional funds through bond issuance, pushing interest rates on this channel up to double digits.

The pressure to pay salaries and bonuses, settle debts, and meet investment capital needs at the end of the year has fueled a renewed surge in bond issuance.

The real estate and construction sectors are experiencing a capital shortage.

In the industrial real estate sector, the Industrial Investment and Development Corporation - JSC (Becamex IDC, stock code: BCM) has just announced the successful issuance of 900 billion VND in bonds.

Just a few days earlier, this "giant" also completed another offering worth 660 billion VND. Thus, in just one month, Becamex IDC has successfully raised over 1,500 billion VND. This rapid move is part of a plan to raise a total of 2,000 billion VND to restructure debts and provide additional capital for key projects.

In the construction sector, Tam Trinh Construction Investment Joint Venture Company Limited also attracted attention by raising 2,000 billion VND in just one week. Specifically, the company successfully issued a 1,100 billion VND bond issue (72-month term) immediately after completing a previous 900 billion VND issue.

Not to be left out of the race, Coteccons Construction (stock code: CTD) has just announced a plan to raise up to 1,400 billion VND. Notably, the company clearly stated the purpose of using the capital is to pay year-end salaries and bonuses to employees (approximately 250 billion VND) and settle debts with partners.

Similarly, Thanh Thanh Cong - Bien Hoa Joint Stock Company (TTC AgriS, stock code: SBT) has also just listed nearly 500 billion VND worth of bonds on the centralized stock exchange.

Needing money to pay salaries, bonuses, and fulfill contracts, a series of businesses are stepping up bond issuance (Photo: DT).

In the financial market, banks are also boosting their bond issuance channels to strengthen their capital adequacy ratio (CAR) and ensure the ratio of short-term capital to medium- and long-term loans.

Statistics show that BIDV has just issued 360 billion VND, bringing the total value of capital raised in November to nearly 2,000 billion VND. VPBank also approved a new issuance plan of 500 billion VND just before December 10th, following the 1,000 billion VND issuance completed last month. A number of other banks such as Nam A Bank and Bac A Bank have also joined the race with multi-billion VND offerings.

Interest rates hit a new peak of 13.5% per year.

The surge in demand for capital has pushed corporate bond interest rates back to double digits, reminiscent of the rapid increase period from 2019-2021.

Data from the Vietnam Bond Market Association (VBMA) shows that in November there were 24 private placements with a total value of over VND 19,600 billion. Of these, the banking sector led with over VND 11,300 billion, followed by the real estate sector with over VND 5,130 billion.

Notably, the issuance interest rates for real estate bonds are commonly in the range of 9-10.3% per year. In particular, Khai Hoan Land Group recently issued a 60-month bond issue with an interest rate of up to 13.5% per year. This is a rare high interest rate since the bond market confidence crisis in 2022.

Experts predict that corporate bond yields are likely to face further upward pressure in the near future, as deposit interest rates at banks are on an upward trend and the demand for cash during the peak Tet Lunar New Year season is increasing.

The wave of official interest rate increases has spread to state-owned banks, with BIDV recently making a significant adjustment to its savings interest rate schedule, increasing rates by up to 0.6-0.7 percentage points across various maturities. Prior to this, another member of the Big 4 group, VietinBank, had also begun raising interest rates online.

Not only state-owned banks, but also commercial banks are racing against time at the end of the year. Long-term deposit interest rates are now approaching 7% per year; in particular, for deposits worth trillions of dong, preferential interest rates have reached 9% per year.

Notably, liquidity pressure during the peak season has caused interest rates for terms under 6 months at many institutions to simultaneously reach the "maximum" of 4.75%/year. This race to attract capital is predicted to remain intense until the Lunar New Year 2026.

Source: https://dantri.com.vn/kinh-doanh/khat-von-cuoi-nam-doanh-nghiep-chap-nhan-lai-suat-trai-phieu-toi-135-20251212173338675.htm