The State Treasury put VND 13,000 billion (US$493.2 million) of government bonds up for auction on 3 December, but only the 10-year tranche managed to sell, yielding VND 7,850 billion (US$298 million) out of a possible VND 8,000 billion (US$303.7 million), according to the Vietnam Bond Market Association → view source.
All five-year, fifteen-year and thirty-year bonds attracted registrations but produced zero winning bids.
The ten-year winning yield rose by two basis points to 3.88 percent, indicating slightly higher funding costs.
The State Treasury has issued VND 314,769 billion (US$11.94 billion) so far in 2025, achieving about 63 percent of its annual plan.
Ten-year bonds account for VND 260,222 billion (US$9.88 billion) issued year to date, followed by five-year bonds at VND 38,777 billion (US$1.47 billion) and fifteen-year bonds at VND 12,230 billion (US$464.1 million).
In Q4 alone, VND 59,080 billion (US$2.24 billion) has been issued, equal to about 40.7 percent of the quarter’s target.
Bond lots/outcomes December 3, 2025, VND/billions
| Code | Tenor | Offered | Registered | Won | Yield % |
| TD2530010 | 5 | 3,000 | 300 | 0 | – |
| TD2535029 | 10 | 8,000 | 11,200 | 7,850 | 3.88 |
| TD2540037 | 15 | 1,500 | 400 | 0 | – |
| TD2555052 | 30 | 500 | 0 | 0 | – |