In November, the State Treasury of Vietnam called for 16 auctions of government bonds with the total offering value of VND 40,500 billion, the winning rate was 84.3%.

In November, the State Treasury of Vietnam called for 16 auctions of government bonds with a total value of VND 40,500 billion, the total winning value was VND 34,133 billion, the winning rate was 84.3%. The two tenors with the highest offering value were 10-year tenor and 15-year tenor (VND 15,500 billion and VND 13,500 billion respectively), and the winning rate was 90.5% (10-year tenor) and 92.7% (15-year tenor).

During the month, the winning rate for 5-year tenor bond increased by 16% compared to October. Average winning interest rates of all tenors decreased compared to last month.

In Q4/2021, STV plans to issue VND 135,000 billion of government bonds, including tenors of 5 years (VND 15,000 billion), 7 years (VND 5,000 billion), 10 years (VND 37,000 billion) and 15 years (VND 50,000 billion), 20 years (13,000 billion VND) and 30 years (15,000 billion VND). Since the begining of Q4, STV has issued VND 50,279 billion of government bonds, equivalent to 37% issuing plan. Since the begining of the year, STV has issued VND 287,993 billion, equivalent to 77% of the adjusted annual plan. In December, there will be about VND 4,600 billion of government bonds reaching maturity, about 2.4% of bonds matured in the year.

In November, the Vietnam Development Bank called for 4 auctions of Government-Guaranteed bonds with the total value of VND 3,000 billion, of which the winning rate was 66.6%.

In November, the Vietnam Development Bank called for 4 auctions with total value of VND 3,000 billion, the bid/offer ratio reached 495.3%. In which, the winning volume reached VND 2,000 billion (equivalent to the winning rate of 66.6%) at 3 tenors of 5-year (VND 500 billion), 7-year (VND 500 billion) and 10-year (VND 1,000 billion). The winning rates for 5-year, 7-year and 10- year tenor were 100%, 15-year bond was not succesfully issued. Winning yields for 5-year, 7- year and 10-year tenors were 1.12%, 1.5% and 2.35% respectively, 0.34%, 0.4% and 0.26% higher than the winning yields of government bonds at the same tenors.

Since the beginning of the year, the total value of governemnt guaranteed bonds issued is VND 13,024 billion, in which there is VND 11,024 billion of bond issued by Vietnam Bank for Social Policy (completed 100% of the issuance plan according to Decision No. 945/QD-TTg of the Prime Minister dated June 15, 2021) and VND 3,000 billion of bond issued by Vietnam Development Bank (reached 17.5% maximum issuing volume of 2021 according to Decision No. 1393/QD-TTg of the Prime Minister dated August 10, 2021).

The value of Outright and Repo transactions reached VND 181,778 billion (+16.6% MoM) and VND 100,021 billion (+57.5% MoM).

On the secondary market, the average daily Outright transaction value increased to VND 8,263 billion per day (+11% MoM), and the average daily Repo transaction value also climbed to VND 4,546 billion per day (+50% MoM). Compared to the same period last year, November Outright volume increased by 10.9% and Repo volume increased by 31.9%. During the month, the 10-year and 15-year tenors were traded the most. In November 2021, foreign investors net sold a total of VND 373 billion, thus, accumulated from the beginning of 2021, foreign investors have net bought VND 10,828 billion.

Compared to the previous month, Government bond yields (according to VBMA outright trading room) decreased slightly at almost all tenors.

Government bond yields slid slightly about 4-12 points in tenors from 1 year to 30 years compared to the previous month's average. Compared to last year's interest rate level, the yield for tenors from 5 years to 30 years was currently 26-50 bps lower, while the yields for tenors from 1-3 years was 25-30 bps higher. In recent months, the yield curve has become steeper, (increased long-term yields, decreased short-term yields). In November, 10-year and 5-year government bonds were traded the most with trading volume of VND 7,100 billion (accounting for 41%) and VND 3,250 billion (accounting for 20%).

In Nov 2021, there were 40 domestic corporate bond issuances under private placement with a total value of VND 18,276 billion and 1 issuance under public offering of Vinhomes JSC with value of VND 2,090 billion. The total issuing value in the month is VND 20,366 billion.

According to data consolidated by VBMA, as of December 1, 2021, there were 40 issuances under private placement and 1 issuance under public offering of Vinhomes JSC with a total issuance value of VND 20,366 billion in November 2021.

In November 2021, Real Estate was the leading sector in terms of issuance value with the figure of VND 8,476 billion, accounting for 42%. In the Real Estate sector, Vinhomes JSC had the highest issuing value (VND 2,090 billion) of 5-year bonds under public offering with coupon rate of 9.2%/year for the first 4 periods and floating in the following periods, the reference rate = deposit rate VND 12M (VCB, BIVD, AGRI, VIETIN).

Commercial banking sector ranked second with a total issuing value of VND 7,950 billion, accounting for 39% of the total issuance value of the month. In the Banking sector, Southeast Asia Commercial Joint Stock Bank is the most prominent with 5 bond issuances of total value of VND 2,000 billion, tenor of 3 years, coupon rate of 3.7%/year to increase charter capital. Tien Phong Commercial Joint Stock Bank also had 2 bond issuances with the same issuing value, coupon rate of 3.2%/year, tenor of 3 years to extend credit activities.

In the first 11 months of 2021, there were a total of 826 domestic corporate bond issuances with a total value of VND 495 trillion, of which there were 803 issuances under private placement and 23 issuances under public offering, 4 bond issuances on international market with a total value of USD 1.425 billion.

In the first 11 months of 2021, there were 826 private placements with a total value of VND 468.85 trillion (accounting for 94.7% of total issuing value), 23 issuances under public offering with a value of VND 26.34 trillion (accounting for 5.3% of total issuing value), and 4 issuances of bonds on the international markets with a total value of USD 1.425 billion.

In the first 11 months of the year, the group of Real Estates company ranked first with a total issuing value of VND 187.16 trillion, account for 38% of total issuing value. In which, about 30% of bonds issued were unsecured or secured by common shares, this ratio incrased compared to the last month. Issuing interest rates ranged from 4.5-13%/year. Commercial banks sector ranked second with a total issuing value of VND 169.6 trillion. In which, there were VND 46.5 trillion of Tier 2-capital raising bonds (accounting for 27%), 71% of bonds issued with short tenors of 2-4 years.

Since the begining of 2021, there were 4 issuances of bonds on the international market, including: Vingroup (USD 500 million), green bonds of BIM Real Estate Joint Stock Company (USD 200 million), convertible bonds of Novaland (USD 300 million) and sustainable bonds issued by Vinpearl.