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 148 831 334 218 400 000
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, 5.4 18may2024 - Domestic bonds VNTD17244151 5.4% 3 250 000 000 000  VND 05/17/2017 05/18/2024
Vietnam, 7 11may2037 - Domestic bonds VNTD17374081 7% 1 650 000 000 000  VND 05/10/2017 05/11/2037
Vietnam, 5.2 14apr2022 - Domestic bonds VNTD17223809 5.2% 4 200 000 000 000  VND 05/03/2017 04/14/2022
Vietnam, 6 4may2027 - Domestic bonds VNTD17273978 6% 1 600 000 000 000  VND 05/03/2017 05/04/2027
Vietnam, 6.7 4may2032 - Domestic bonds VNTD17324045 6.7% 1 090 000 000 000  VND 05/03/2017 05/04/2032
Vietnam, 6.7 27apr2032 - Domestic bonds VNTD17324037 6.7% 3 250 000 000 000  VND 04/26/2017 04/27/2032
Vietnam, 7.6 20apr2047 - Domestic bonds VNTD17474303 7.6% 4 851 200 000 000  VND 04/19/2017 04/20/2047
Vietnam, 7.8 7apr2047 - Domestic bonds VNTD17474113 7.8% 5 665 000 000 000  VND 04/05/2017 04/07/2047
Vietnam, 7.4 30mar2037 - Domestic bonds VNTD17374073 7.4% 5 130 000 000 000  VND 03/29/2017 03/30/2037
Vietnam, 5.4 23mar2024 - Domestic bonds VNTD17244144 5.4% 5 170 000 000 000  VND 03/22/2017 03/23/2024

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: 05/25/2017 05/24/2017 05/23/2017 05/22/2017 05/19/2017 05/18/2017 05/17/2017
Exchange Rates (Emerging Markets)
USD/VND 22 687.9800 22 681.4600 22 694.3000 22 698.4400 22 696.7100 22 681.6900 22 663.9700
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Risk Management Institute

Daily indices

Type: 05/24/2017 05/23/2017 05/22/2017 05/19/2017 05/18/2017 05/17/2017 05/16/2017
RMI CVI - Asia
Vietnam CVI value weighted  23.30 23.23 23.24 23.83 24.23 24.24 24.11
Vietnam CVI tail  195.23 204.16 197.77 197.83 207.42 203.88 210.97
Vietnam CVI equally weighted  51.34 53.14 50.35 50.66 51.16 50.91 52.06
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Macroeconomic Indicators (World economy)

Monthly indices

Type Apr 2017 Mar 2017
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Vietnam) 4.30 5.02
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Yearly indices

Type 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Vietnam) 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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