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 144 52 622 265 544 100
USD 5 2 879 594 000
corporate
USD 4 1 211 799 000

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, 5.43 23mar2024 - Domestic bonds VNTD17244144 5.43% 1 700 000 000 000  VND 03/22/2017 03/23/2024
Vietnam, 6.9 16mar2032 - Domestic bonds VNTD17324029 6.9% 2 600 000 000 000  VND 03/15/2017 03/16/2032
Vietnam, 7.9 16mar2047 - Domestic bonds VNTD17474105 7.9% 3 900 000 000 000  VND 03/15/2017 03/16/2047
Vietnam, 5 9mar2022 - Domestic bonds VNTD17223791 5% 700 000 000 000  VND 03/08/2017 03/09/2022
Vietnam, 5.3 2mar2024 - Domestic bonds VNTD17244136 5.3% 4 905 000 000 000  VND 03/01/2017 03/02/2024
Vietnam, 6 16feb2027 - Domestic bonds VNTD17273960 6% 2 236 000 000 000  VND 02/16/2017 02/16/2027
Vietnam, 5 16feb2022 - Domestic bonds VNTD17223783 5% 5 072 000 000 000  VND 02/16/2017 02/16/2022
Vietnam, 7.7 19jan2037 - Domestic bonds VNTD17374065 7.7% 5 850 000 000 000  VND 01/18/2017 01/19/2037
Vietnam, 5.5 12jan2024 - Domestic bonds VNTD17244128 5.5% 750 000 000 000  VND 01/11/2017 01/12/2024
Vietnam, 5.2 12jan2022 - Domestic bonds VNTD17223775 5.2% 1 000 000 000 000  VND 01/11/2017 01/12/2022

World Bond market statistics

Quarterly indices

Type IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015
BIS volume of international-bond market of emerging countries
Vietnamese international bonds, USD bln 2.800 3.000 3.000 3.100 4.300 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 0.000

Currencies

Daily indices

Type: 03/23/2017 03/22/2017 03/21/2017 03/20/2017 03/17/2017 03/16/2017 03/15/2017
Exchange Rates (Emerging Markets)
USD/VND 22 789.0000 22 697.5500 22 779.0400 22 789.8500 22 700.0000 22 698.3600 22 827.0700
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Risk Management Institute

Daily indices

Type: 03/23/2017 03/22/2017 03/21/2017 03/20/2017 03/17/2017 03/16/2017 03/15/2017
RMI CVI - Asia
Vietnam CVI value weighted  24.68 25.05 25.04 25.53 25.89 25.99 26.08
Vietnam CVI tail  201.67 199.47 196.17 203.45 209.24 200.82 199.73
Vietnam CVI equally weighted  51.49 51.39 51.35 52.05 51.88 52.86 52.63
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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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