Full market recovery still out of reach for real estate

Full market recovery still out of reach for real estate

Despite the real estate sector’s return to bond issuance in July with attractive interest rates after a three-month absence, a market recovery in the latter half of the year and 2025 is unlikely due to credit risks.
Real estate bond issuance heats up

Real estate bond issuance heats up

Amidst the market headwinds, several real estate developers with healthy operational records have secured large sums for project deployment through bond issuances.
Recovery in bond issuance not yet confirming turnabout

Recovery in bond issuance not yet confirming turnabout

The recent influx of defaulted bonds is primarily due to an increase in restructured bonds caused by recent regulation adjustments, according to a new report.
Securities firms, issuers fined for bond issuance violations

Securities firms, issuers fined for bond issuance violations

After inspecting 21 securities companies and nine issuers since last October, 14 units were found violating bond issuance regulations, said Le Cong Dien, director of the Public Enterprises Supervisory Department under the State Securities Commission (SSC).
Widening the space to access credit for real estate businesses

Widening the space to access credit for real estate businesses

Real estate businesses are under great pressure as loans are limited and bond issuance is no longer easy. Capital has been an extremely painful problem for the real estate market recently. Since April market liquidity has been low, including primary and secondary goods.
MoC proposes controlling bond issuance of property firms

MoC proposes controlling bond issuance of property firms

The Ministry of Construction (MoC) has proposed controlling the bond issuance activities of real estate enterprises but not tightening investment in real estate bonds...
Weighing up risks of a bubble from bond squeeze

Weighing up risks of a bubble from bond squeeze

The Vietnamese government has implemented a range of measures to control and tighten credit in real estate bonds. Broadly speaking, there are three channels of debt capital that the real estate sector can call on to secure credit: senior bank lending, the broader capital markets, and private credit.
Bond issuance slows amid tightening controls

Bond issuance slows amid tightening controls

Bond issuers have become more cautious amid the authorities tightening control of the market, leading to issuance shrinkages.
Lenders reinforcing presence with bond issuance

Lenders reinforcing presence with bond issuance

Commercial banks, with participation from local and foreign-backed institutions, are engaging in bond issuance despite severe regulations placed on this and volatile market conditions.
Loopholes and risks holding back bond market

Loopholes and risks holding back bond market

The State Securities Commission of Vietnam has recently cancelled nine private bond offerings of three companies under Tan Hoang Minh Group, laying open loopholes and risks that have been holding back Vietnam's bond market.
Banks deny involvement in Tan Hoang Minh's bond issuance scandal

Banks deny involvement in Tan Hoang Minh's bond issuance scandal

Vietinbank and Saigon Hanoi Commercial Joint Stock Bank (SHB) said that they do not provide securities and payment guarantee services, do not invest and distribute bonds issued by Tan Hoang Minh Group.
Property developer’s bond issuance canceled following false information submission

Property developer’s bond issuance canceled following false information submission

The State Securities Commission (SSC) has decided to cancel nine separate bond issuances worth over 10 trillion VND (over 437 million USD) by subsidiaries of property developer Tan Hoang Minh Group because they submitted false information.
Fruitful territory for bond issuance

Fruitful territory for bond issuance

Banks are showing strong desire in bond issuance activities, while real estate developers have lowered the extent of their bond-related capital mobilisation efforts.
Investors cautioned over bond issuance vulnerabilities

Investors cautioned over bond issuance vulnerabilities

Credit-challenged companies, especially banks and real estate providers, are finding another way around their continuous capital needs by tapping into the corporate bond issuance market, which remains particularly vulnerable to economic downturns and incomplete legal frameworks in Vietnam.
Risks failing to stem bond issuance

Risks failing to stem bond issuance

Bond issuance is still an attractive and prevailing proposition for Vietnamese corporations to raise funds, even for loss-making and high-risk companies.
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