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VN postpones $3bn international bond plan
Viet Nam has postponed a US$3-billion international bond issuance plan due to unfavourable conditions in the global finance and monetary market, the finance ministry said.
The National Assembly in November last year had approved the international bond issuance plan, to be launched in 2016, to restructure domestic debts that arise during the 2015-16 period. The bonds were expected to have terms of 10 to 30 years, with interest rates to be set depending on international capital market conditions at the time of issuance.
However, according to the finance ministry, the global finance and monetary market has continued to remain in flux since the end of last year, with the period witnessing several unfavourable conditions such as United States' Treasury bond rise, China's yuan devaluation and the Brexit vote.
The international bond issuance plan, therefore, has been postponed, the ministry said.
However, it said the government would closely watch the global market to be able to issue the bonds at a suitable time, ensuring national interests.
Viet Nam has so far issued international bonds three times, the first of which was in 2005, worth US$750 million; the second in 2010, valued at $1 billion; and the third in 2014, worth $1 billion.
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