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Gov't sells $1.15b bonds in February

Update: March, 04/2015 - 08:46

HA NOI (VNS) — The Government raised more than VND24.5 trillion (US$1.15 billion) from bonds on the primary market in February, a drop of 12.2 per cent from January, the Ha Noi Stock Exchange reported.

In the 16 auctions held on the northern bourse last month, the State Treasury offloaded bonds worth almost VND23 trillion ($1.07 billion) and the Vietnam Bank for Social Policies sold bonds worth VND1.6 trillion ($75 million).

According to the exchange, five-year bonds garnered the most attention in terms of bids and calls, accounting for 62.5 per cent of the bonds sold last month.

Coupon rates declined in all types of bonds. Three-year bonds were sold at coupon rates between 5.1-5.24 per cent annually, down 0.33 per cent from January.

The interest rates paid on five-year bonds also decreased by 0.67 per cent from the previous month, selling between 5.29-5.95 per cent annually. The coupon rates of 10-year bonds were 6.48-6.5 per cent annually, down 0.02 per cent, and 15-year bonds were 7.5-7.59 per cent annually, down 0.41 per cent.

In the secondary market, the total volume of outright trading in February amounted to 318.5 million bonds, worth VND34.1 trillion ($1.6 billion), of which sales of Government-backed bonds accounted for VND2.3 trillion ($107.5 million).

The trading volume by repurchase agreements (repos) was 92.3 million bonds, equivalent to the value of VND9.3 trillion ($434.6 million). Repos of Government-backed bonds constituted VND2.2 trillion ($102.8 million) of the total.

Foreign investors focused their activity to outright trading with their buy value amounting to VND7.71 trillion ($360.3 million) while the repos sales were just VND340 billion ($15.9 million).

According to the Ha Nei exchange, total sales of Government bonds for 2015 have so far reached VND44.323 trillion ($2.07 billion), of which the State Treasury of Vietnam raised VND40.37 trillion ($1.9 billion) and the Vietnam Bank for Social Policies sold bonds worth VND3.953 trillion ($185.5 million). — VNS



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