Hanoi (VNA) – The Ministry of Finance announced on September 5 that Government bond issuance in the first eight months of 2025 reached 238.7 trillion VND (9.04 billion USD), fulfilling 47.7% of the annual target of 500 trillion VND.
The average maturity of Government bonds issued stood at 9.98 years, down 1.14 years compared with the 2024 average. The average coupon rate was 2.98% per year, an increase of 0.46 percentage points from the 2024 average of 2.52%.
As of August 30, Government bond outstanding debt had totaled 2.5 quadrillion VND, equivalent to 21.8% of GDP in 2024.
Social security funds and insurers hold the bulk of Government bonds, with a 62.1% share, while commercial banks own 37.1% and other investors the remaining 0.8%.
Corporate bond issuance also picked up strongly. Sixty-six firms raised 322.1 trillion VND through private placements in the first eight months, up 47.3% year-on-year.
Credit institutions accounted for 70.4% of the total, real estate firms 20.8% and other sectors 8.8%. Bonds with collateral reached 67.1 trillion VND, or 20.8% of the total issued.
Companies repurchased 177.8 trillion VND of corporate bonds ahead of maturity, a 45.9% increase from the same period last year.
By August 30, outstanding privately placed corporate bonds stood at about 1.1 quadrillion VND, equal to 9.8% of 2024 GDP and 6.6% of total credit in the economy.
Institutional investors held 81.9% of the corporate bond stock, while the share of individual investors fell to 18.1%, down 10 percentage points from end-2023./.
VNA
