Successfully issued 20 individual bonds in April

Successfully issued 20 individual bonds in April

Credit institutions continued to hold the leading position in both issuance and trading. This was the group with the largest issuance proportion in April with many prominent names such as Techcombank, MSB, ABB, ACB, PG Bank. Notably, Techcombank carried out a total of 4 issuances with a total value of up to VND 8,700 billion.

In addition, VietinBank also conducted a public offering with a total value of VND 4,000 billion, marking the active participation of major banks.

The securities group also started to return with TCBS issuing 500 billion VND in private bonds.

In the secondary market, bond trading also recorded growth with 28 new bond codes registered for trading, with a total value of VND20,055 billion. In total, in the first 4 months of the year, the market welcomed 67 new bond codes with a total market trading value of VND274,477 billion, equivalent to an average of VND4,732 billion/session. Credit institutions and securities companies are still the groups with the largest trading proportion.

One of the highlights of April was the return of real estate businesses after a long period of silence. Leading the way was Vingroup with 3 separate bond issuances, totaling VND9,000 billion, with interest rates up to 12%/year. In addition, TCO Real Estate Consulting and Trading JSC also successfully mobilized VND3,000 billion.

In addition, the market also recorded the appearance of a group of manufacturing enterprises, represented by Xuan Mai Clean Water Transmission Company Limited - Hanoi. This unit successfully issued a bond lot worth 317.2 billion VND, with a term of 20 years, with a fixed interest rate of 5.75%/year. This shows the diversification of capital sources of enterprises to meet development needs.

However, the maturity pressure is still very high. It is expected that in the remaining 8 months of 2025, about 163,212 billion VND of bonds will mature, of which 53% belong to real estate enterprises. This poses many challenges in the context of rising interest rates and a difficult real estate market.

In April, businesses bought back VND10,318 billion worth of bonds before maturity, down 20% year-on-year. Meanwhile, the cumulative late payment rate decreased slightly by 0.6 percentage points to 14% at the end of April. Notably, there were no new cases of late principal and interest payments during the month, creating some optimism.

In addition, liquidity in the secondary market decreased by 40%, with an average trading value of only about VND3,800 billion per day. Transactions mainly focused on real estate bonds, of which 57% of the trading volume was codes with remaining maturities of 2 to 4 years.

In general, the bold issuance of new bonds by enterprises shows the expectation of economic recovery. However, in the context of increasing maturity pressure, it is necessary to strengthen risk management measures to ensure financial security, especially for real estate enterprises. Information transparency and careful appraisal will be key factors to help investors feel more secure in their investment decisions in individual bonds in the coming period.

Source: https://thoibaonganhang.vn/phat-hanh-thanh-cong-20-dot-trai-phieu-rieng-le-trong-thang-tu-163859.html