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Vietnam banks to sell VND3 trillion in bonds this week   2009-06-22 - Reuters

Vietnam banks to sell VND3 trillion in bonds this week
Vietnam’s two policy lending banks plan to raise a combined VND3 trillion worth of government bonds this week, the Hanoi stock exchange said.


State-run Vietnam Bank for Social Policies would sell two-year bonds to raise VND2 trillion (US$113 million) on June 24 and the 2011 debt underwritten by the Finance Ministry would be issued on June 26, the exchange said in a statement.

At the previous auction on June 10, the lender, which raises funds to lend to the poor as part of the government’s poverty reduction drive, sold a quarter of the VND2 trillion two-year bonds at a yield of 8.7 percent.

On June 26, state-run Vietnam Development Bank will auction two-year and 10-year government bonds, each to raise VND500 billion ($28 million), the exchange said in another statement.

The lender, also based in Hanoi, issues the bonds on behalf of the government to raise funds for the construction of roads, bridges, schools, irrigation projects and other major power plants.

On Friday it sold a tenth of a total of 1 trillion in bonds on offer, accepting buyers for 10-year debt at an annual yield of 9.2 percent while it declined bids for two-year paper.

The fixing on two-year government bond yields eased to 8.6250 percent on Friday from 8.6446 percent on Thursday, according to Reuters data.

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