January 01, 2024 | 15:00 GMT+7

Some 79 enterprises issue privately-placed bonds in 2023

Bình Minh -

Value down 36% against 2022.

According to figures from the Ministry of Finance, as of December 25, some 79 enterprises had successfully issued privately-placed corporate bonds this year with a value of VND245.9 trillion (over $10 billion), a year-on-year decline of 35.6 per cent in value.

Vietnam’s corporate bond market has seen positive signs of recovery since Government Decree No. 08/2023/ND-CP came into effect on March 5, 2023, which amended, supplemented, or suspended the effect of a number of articles from a previous decree regulating the private placement of corporate bonds and their trade.

There were almost no privately placed corporate bonds issued in the first quarter of 2023. From the second quarter onwards, however, the number increased every month. In the third quarter, value increased 2.7-fold against the second quarter and 36.2 per cent year-on-year.

Value in the fourth quarter of 2023 rose three-fold year-on-year against the fourth quarter of 2022. During the latter, the total value of issued corporate bonds stood at VND4 trillion (nearly $165 million), down 94.5 per cent against the previous quarter and 98.8 per cent year-on-year, due to the fact that a corporate bond-related scandal was uncovered at the Van Thinh Phat Group and its  founder and President Truong My Lan was prosecuted in September 2022.

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