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Vietnam treasury fails to sell $307.8 mln G-bonds
The State Treasury of Vietnam failed last Friday to sell any of the VND6 trillion ($307.8 million) government bonds through auction on the Hanoi Stock Exchange (HNX).
No bidders had registered to take part in the 21st tranche G-bond auction this year with the amount comprises VND2 trillion of three-year, five-year and ten-year bonds each, according to the northern bourse website.
The State Treasury is planning to sell VND15 trillion-16 trillion worth of G-bonds in the last two months of this year.
In the first ten months, the State Treasury of Vietnam sold VND67.62 trillion of bonds, including VND7.49 trillion from bill auctions via the central bank, VND26.16 trillion via the HNX, VND26.44 trillion via underwriting.
Commercial banks have started to raise interest rates on dong deposits to 12 percent beginning on November 8, sparkling concerns over the likelihood that the government must raise yields to sell its bonds.
The latest winning yields of 9.6 percent and 10.25 percent per annum were recorded on October 28 for three- year and five-year bonds.
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