bank opens bond services

Bank opens bond services

Vietnam’s bond trading market is set to benefit greatly from Vietcombank’s announcement last week that it will enter bond trading services.
cash strapped southern city looking to bonds for bail out

Cash-strapped southern city looking to bonds for bail-out

As a key economic hub, Ho Chi Minh City is vital to Vietnam’s continued growth. But, Giang Thanh discovers a shortage of funds has the south’s financial engine running on fumes.

Lacklustre debut for bonds sale

Bonds trading at the new Hanoi Securities Trading Centre (HSTC) made an inauspicious debut last week.
bonds to rescue stalled projects

Bonds to rescue stalled projects

The Ho Chi Minh City Infrastructure Investment Joint-Stock Company, better known as CII, plans to issue VND100 billion ($6.3 million) in convertible bonds to raise funds to finish stalled public works in the southern city.
local warehouse plan goes for gold

Local warehouse plan goes for gold

The country’s first ever custom-bonded gold warehouses are set to be established by the end of this year following approval from the State Bank last week.

Objections to State Bank convertible bond issue

The government is considering a move to permit state-owned banks to issue convertible bonds to increase their capital, triggering protests from other financial institutions.

State Bank backs bonds to fund works worksprojects

CAPITAL for public projects fetching low returns should be sourced from government bonds and not banks, the State Bank of Vietnam has told the government.

Government gets cold feet over international bond issue

VIETNAM may suspend its plan to issue government bonds on international financial markets, despite the high level of interest from foreign investors.“Now is not the right time for the bond issue,” Deputy Prime Minister Nguyen Tan Dung said. “But we haven’t decided for sure if we will call it off altogether.”

$300 million to be raised in bond issuance

The government has tabled a plan to raise nearly $300 million from the sale of bonds to the end of the year - the first phase of an ambitious scheme to collect more than $4 billion from bond sales by 2010. Payment - both on the principal and the interest - is to be made in local or foreign currency, and funds raised by the sale are to support a number of road construction and irrigation projects nationwide.

PetroVietnam bonds snapped up by investors

All $19 million of bonds offered by state-owned PetroVietnam have been sold ahead of their September 3 issuance. Financial institutions have snapped up 80 per cent of the bonds that will fund key PetroVietnam projects and subsidise the company’s technology upgrades. Individual investors have bought the rest.
rush on bonds before issuance

Rush on bonds before issuance

Local commercial banks are rushing to buy large volumes of municipal bonds even though the Ho Chi Minh City government has yet to officially launch the issuance. Vietcombank has registered to buy $25.5 million worth of bonds of the $77.6 million issue. The Vietnam Bank for Investment and Development (BIDV) has registered to buy $32.4 million.
banks cheer third fund injection

Banks cheer third fund injection

The Ministry of Finance is to channel more than $103 million from the sale of government bonds to the five biggest state-run commercial banks by the end of this month. The banks to receive the capital are the Vietnam Foreign Trade Bank (Vietcombank), Vietnam Industrial and Commercial Bank (Vietincombank), Vietnam Bank for Investment and Development (BIDV), the Vietnam Bank for Agriculture and Rural Development (VBARD) and Mekong Delta Housing Bank (MHB).
southern hub gets on bond bandwagon

Southern hub gets on bond bandwagon

HO CHI Minh City has passed a new rule allowing foreign investors to purchase municipal bonds.

State moves to sell bonds to foreigners

FOREIGNERS will be permitted to buy government bonds if a new decree submitted to government last week is approved.