Corporate bond activity welcome as market shocks persist unabated, illustration photo Vietnam has witnessed a surge in corporate bond issuances recently, with names such as BIDV, Masan, and TNR Holdings leading the way. The trend, according to market watchdogs, is a welcome sign amidst volatilities hitting the financial markets as the global slowdown deepens. “Bond issuance, one of the major sources of capital for businesses, is in accordance with the law. Bank loans cannot be the only permanent source for financing, especially for long-term capital,” said Truong Thanh Duc, chairman of law firm BASICO. In the first four months of this year, Vietnamese companies issued bonds worth more than VND60 trillion ($2.6 billion), edging up less than 1 per cent on-year. According to Yuanta Securities, the popularity of raising capital via bond issuance has been increasing, with some new sectors including household and personal products, food and beverages, tobacco, energy, and retail. Specifically, unlisted firms were the key issuers in the first quarter, despite decreasing by 16.4 per cent on-year. Firms with high issuance value of more than VND2 trillion ($8.7 million) were mainly unlisted. The spread of the COVID-19 pandemic has triggered simultaneous shocks to the whole economy. As… Read full this story
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