Vietnam’s corporate bond market showed signs of renewed activity in May, with VND 46.77 trillion (US$1.80 billion) worth of private placements across 42 deals, according to data from the Vietnam Bond Market Association (VBMA) as of May 31.

Key details:

Issuances: VND 46.77 trillion (US$1.80 billion) worth of private placements across 42 deals
Redemptions: VND 15.86 trillion (US$610 million), up 6.7 percent year-on-year
Maturities remaining in 2025: VND 149.87 trillion (US$5.77 billion), of which real estate bonds account for VND 79.77 trillion (US$3.07 billion) or 53 percent
Late payments: 6 announcements of delayed interest/principal payments totalling VND 306 billion (US$11.8 million)
Secondary market: VND 111.26 trillion (US$4.28 billion) traded in May, a 25 percent increase from April, with a daily average of VND 5.56 trillion (US$214 million)

Issuance plans ahead:

Asia Commercial Bank (ACB): Up to VND 20 trillion (US$770 million) in convertible, unsecured bonds with a 5-year term and flexible coupon rates
Nam Long Group (NLG): VND 660 billion (US$25.4 million) in 3-year secured bonds at an 11 percent coupon for the first two periods

Vietnam’s bond market looks to be gradually regaining momentum after a period of regulatory tightening and defaults. However, the heavy weight of real estate bonds in upcoming maturities and persistent late payments still points to elevated risks.

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