$5.6 bln worth of bonds redeemed before maturity in 2022

By Minh Son   October 21, 2022 | 07:51 pm PT
$5.6 bln worth of bonds redeemed before maturity in 2022
An employee counts Vietnamese banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy
Companies have bought back VND135.18 trillion (US$5.63 billion) worth of bonds this year, according to Vietcombank Securities.

The biggest buyers have been banks, followed by property companies.

According to SSI Securities, the scramble to redeem prematurely could have stemmed from the State Securities Commission’s cancellation of VND10 trillion worth of corporate bonds issued by Tan Hoang Minh earlier this year.

"Both issuers and buyers are cautious about raising capital through bond issuances."

Sunshine Homes Development Joint Stock Company bought back bonds worth VND500 billion ($20.8 million) issued in late 2020 and due only in the next two months, saying the firm in charge of bond payment underwriting has been placed on a special watch list by the central bank.

By mid-June GELEX Group Joint Stock Company had bought back four times in just two months to the tune of some VND1.4 trillion.

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