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Bonds issuance in Q3 falls sharply

VNDirect Securities has reported that the total value of corporate bonds issued in Q3 fell sharply by 50.5 percent compared with the previous quarter and 70.9 percent against Q3 2021 to VND60.635 trillion.

This is due to issuers waiting for the new decree to replace Decree 153.

Privately issued and publicly offered bonds accounted for 97.4 percent and 2.6 percent, respectively.

Forty-two businesses issued bonds in Q3. The enterprises with the largest number of privately issued bonds were banks, including BIDV (VND6.867 trillion), OCB (VND6.6 trillion), VietinBank (VND4.21 trillion), ACB (VND3.8 trillion) owned by Tran Hung Huy, and HDBank owned by billionaire Nguyen Thi Phuong Thao and Military Bank (VND3.63 trillion).

In Q3, finance and banking was the sector with the largest proportion, 82.5 percent, of privately issued bonds, or VND48.683 trillion, a decrease of 39.5 percent from the previous quarter and 37.9 percent compared with the same period last year.

Meanwhile, the real estate sector accounted for 13.7 percent of the total bonds issued, or VND8.091 trillion, a sharp fall of 45.9 percent from Q2 and 90.9 percent from the same period last year.

The real estate firms which had the highest amount of privately offered bonds included No Va Thao Dien Co Ltd (VND2.3 trillion), Phu Quoc Tourism Investment and Development (VND2.285 trillion) and Fuji Nutri Food (VND1 trillion).

Multi-field corporations witnessed the sharpest decline in privately issued bond value, VND1.5 trillion, or 89.5 percent compared with Q2 2022. 

Other business fields accounted for 1.3 percent of total privately issued bonds in Q3 (VND758 billion), a sharp fall of 94 percent compared with the previous quarter. 

VinFast of dollar billionaire Pham Nhat Vuong issued VND300 billion worth of 3-year bonds, while Nui Phao Mineral Exploitation and Processing of billionaire Nguyen Dang Quang issued VND290 billion worth of five-year bonds.

As such, the total value of bonds issued in September reached VND248.603 trillion, a decrease of 43.5 percent compared with the same period last year.

As for government bonds, the total value of bonds issued in Q3 2022 increased by 12.1 percent over the quarter before.

According to Fiin Group, the coming quarters will be a difficult period for enterprises to seek money to pay principal and interest of bonds as the corporate bond market has shrunk since the beginning of the year.

It is estimated that VND35.56 trillion worth of bonds will mature this year.

Manh Ha

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