State Treasury auction fails to sell bonds

Vietnam’s State Treasury on Thursday failed to sell bonds at a fifth consecutive auction since the end of March as investors demanded higher yields than the government was willing to offer.

The Treasury offered a coupon of 8.7 percent for two-year notes, 9 percent for three-year securities and 9.1 percent for five-year debt, according to a statement on the website of Hanoi Stock Exchange, where the auction took place. The government had planned to sell VND1.5 trillion (US$84.3 million) of the three maturities.

Bidders sought yields of between 9 percent and 9.6 percent for the two-year notes, 9.2 percent to 9.8 percent for the three-year bonds, and 9.2 to 10.2 percent for the five-year securities, the statement said.

Vietnamese government bonds were little changed Thursday, with the yield on the benchmark five-year notes down one basis point to 9.74 percent, according to prices from 10 banks compiled by Bloomberg. A basis point equals 0.01 percentage point.

thanhnien, bloomberg

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