Vietnam Corporate Bond Market Report – January 2024

FiinRatings is pleased to announce Vietnam Corporate Bond Market Report – January 2024. Below are the key highlights in our report:

FiinRatings is pleased to announce Vietnam Corporate Bond Market Report – January 2024. Below are the key highlights in our report: 

• As of February 5, 2024, the corporate bond market recorded four issuances with a total value of VND 6.45 trillion from 4 issuers. 

• In January 2024, the daily liquidity of privately placed bonds reached VND 3.4 trillion/day (down 31% compared to the average of December 2023). Meanwhile, the average daily liquidity of public bonds reached VND 391 billion. 

• Despite the low trading liquidity on HNX, particularly for non-bank corporate bonds, the corporate bond yield curve has been gradually developed with significant credit spreads depending on tenors and credit quality or credit ratings. 

• Several issuers plan to issue bonds in the coming months, including banks such as HD Bank and VietBank, and two real estate developers, including Vingroup (VIC) and Development Investment Corporation (DIG). 

• The outlook for the corporate bond market in 2024 will be more active than in 2023 due to the improvement of the macroeconomic, increasing investment activities, and long-term capital mobilization; the low-interest rate environment is maintained, and the market has gradually become familiar with the new regulations of Decree 65. 

• The risks that have arisen in the past years persist. Specifically, the pressure of debt coming due of privately placed bonds will peak in 2024 and 2025, especially real estate, construction, and materials bonds.  

You can refer to the bulletin for details HERE.

Besides providing credit rating services and in-depth analysis reports, FiinRatings also shares multi-dimensional perspectives on credit ratings from international and domestic practices as well as effective implementation in countries through RATING 101 SERIES. View our full series here.

About the Corporates Bond Bulletin: 

A series of monthly publication which covers comprehensive insights into the Vietnam corporate bond market and provides standardized information in order to support market participants including investment institutions, commercial banks, and insurance companies for their evaluation, selection, and investment in the market.   

For support or inquiry, please contact FiinRatings at:  

Tel: (84-24) 3562 6962    

Email: support.fiinratings@fiingroup.vn   

For media inquiries: 

(Ms.) Anh Ha Nguyen Bui – PR & Marketing Manager 

Điện thoại: 0948361005

Email: anh.buinguyenha@fiingroup.vn

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