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Vietnam fails again to sell any gov’t bonds
Vietnam’s State Treasury has failed for the sixth time in a row to sell any government bonds at an auction Friday when it sought to raise VND500 billion (US$31 million), the Hanoi stock exchange said.
Bidders sought yields of between 10.5 percent and 15 percent for the May 20, 2013 bonds but none of them won to buy any debt, the exchange said in a statement but gave no reasons.
At the previous auction on April 25, the State Treasury also could not sell any of its debt issue worth VND1 trillion ($62.3 million), the fifth failure in a row since March 7, according to the statement.
The last time the State Treasury was successful in the bond sales was on February 28 when it raised VND700 billion ($43.58 million) worth of two-year debt with an annual yield of 7.68 percent.
Banks, the frequent buyers of government debts, have been struggling to raise dong funds after the central bank tightened monetary conditions to fight Vietnam’s double-digit inflation.
Consumer prices gained 21.4 percent last month, the most since at least 1992.
Thanhnien
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