Vietnam: bonds

When the Viet Nam securities market started in 2000, government bonds were the only major products to be listed for trading on the market. Viet Nam's bond market has improved significantly as the Government continues to initiate reforms and pass enabling legislation. The Government's first international bond issuance in October 2005 was a resounding success. Local government bonds both in VND and USD were issued in large lots while streamlined procedures continue to ease corporate bond issuance.
Government bonds dominate the debt market, followed by municipal and then corporate bonds. Maturities vary from less than 1 year to 15 years. Convertible bonds have also been introduced. Bonds are typically purchased at initial auctions by insurance companies, banks, and individuals; and are held until maturity. A number of licensed securities companies are authorized to provide a full range of securities services including underwriting, brokerage, advisory, portfolio management, and trading.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
VND 153 855 512 818 400 000
USD 5 2 879 594 000
corporate
USD 2 776 799 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Vietnam, 6.2 27jul2047 - Domestic bonds VNTD17474329 6.2% 1 270 000 000 000  VND 07/26/2017 07/27/2047
Vietnam, 4.4 20jul2022 - Domestic bonds VNTD17223833 4.4% 1 000 000 000 000  VND 07/19/2017 07/20/2022
Vietnam, 5.7 20jul2032 - Domestic bonds VNTD17324052 5.7% 1 800 000 000 000  VND 07/19/2017 07/20/2032
Vietnam, 6 20jul2037 - Domestic bonds VNTD17374271 6% 2 400 000 000 000  VND 07/19/2017 07/20/2037
Vietnam, 5.3 13jul2027 - Domestic bonds VNTD17273986 5.3% 1 700 000 000 000  VND 07/12/2017 07/13/2027
Vietnam, 5.1 6jul2024 - Domestic bonds VNTD17244177 5.1% 3 300 000 000 000  VND 07/05/2017 07/06/2024
Vietnam, 4.9 29jun2022 - Domestic bonds VNTD17223825 4.9% 2 700 000 000 000  VND 06/28/2017 06/29/2022
Vietnam, 7.3 15jun2047 - Domestic bonds VNTD17474311 7.3% 3 077 000 000 000  VND 06/14/2017 06/15/2047
Vietnam, 5 8jun2022 - Domestic bonds VNTD17223817 5% 5 750 000 000 000  VND 06/07/2017 06/08/2022
Vietnam, 5.3 8jun2024 - Domestic bonds VNTD17244169 5.3% 6 825 000 000 000  VND 06/07/2017 06/08/2024

World Bond market statistics

Quarterly indices

Type I 2017 IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015
BIS volume of international-bond market of emerging countries
Vietnamese international bonds, USD bln 2.800 2.800 3.000 3.000 3.100 4.300 4.300
BIS net issues of international-bond market of emerging countries
International-bond net issue of Vietnam, USD bln   0.200 0.000 0.100 -1.200 0.000 0.000

Currencies

Daily indices

Type: 08/18/2017 08/17/2017 08/16/2017 08/15/2017 08/14/2017 08/13/2017 08/12/2017
Exchange Rates (Emerging Markets)
USD/VND 22 727.2600 22 724.7000 22 727.9887 22 727.1493 22 727.1430 22 726.0000 22 726.0262
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Risk Management Institute

Daily indices

Type: 08/17/2017 08/16/2017 08/15/2017 08/14/2017 08/11/2017 08/10/2017 08/09/2017
RMI CVI - Asia
Vietnam CVI value weighted  25.38 24.87 24.96 24.59 24.92 24.68 24.50
Vietnam CVI tail  160.06 152.48 157.16 155.39 157.01 153.89 157.74
Vietnam CVI equally weighted  46.12 45.43 46.02 45.61 45.98 44.75 44.29
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Macroeconomic Indicators (World economy)

Monthly indices

Type Jul 2017 Jun 2017 May 2017 Apr 2017 Mar 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Vietnam) 2.52 2.54 3.19 4.30 5.02
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Yearly indices

Type 2016 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Vietnam) 62.40 58.30 55.10

JP Morgan

Daily indices

Type: 10/30/2013 10/29/2013 10/28/2013 10/25/2013 10/24/2013 10/23/2013 10/22/2013
EMBI Global (publication was suspended since 30.10.2013) 
EMBI Global Vietnam * * * * * * *
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Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Vietnam, 1% 10oct2025, USD   USD 10/10/2025 05/18/2016 **.** *.** 05/18/2016 **.** *.**
Vietnam, 4.8% 19nov2024, USD   USD 11/19/2024 05/18/2016 ***.* *.** 05/18/2016 ***.** *.**
Vietnam, 6.750% 29jan2020, USD   USD 01/29/2020 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
VietinBank, 8.0% 17may2017, USD   USD 05/17/2017 05/18/2016 ***.** *.* 05/18/2016 ***.** *.**
Vingroup (ex-Vincom), 11.625% 7may2018, USD   USD 05/07/2018 05/18/2016 ***.*** *.** 05/18/2016 ***.*** *.**
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countries
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