The Asian Development Bank (ADB) and
ASEAN nations, along with China, Japan, and the Republic of Korea, are
moving to establish a jointly owned credit guarantee facility, which is
aimed at promoting financial stability and boosting long-term investment
in the region.
Kinh Bac City Development Holding Co,
listed on the HCM Stock Exchange, will issue 200 million USD worth of
convertible bonds overseas in accordance with an agreement signed last
week with Credit Suisse.
Petro Vietnam-Finance Co (PVFC) on
November 24 sold one trillion VND (55.6 million USD) worth of its
corporate bonds to a group of four Vietnamese banks.
EVN Finance Co and Standard Chartered Bank Vietnam signed a
memorandum of understanding to boost cooperation in such areas as money
markets, foreign exchange, structured products and derivatives, cash
management and training.
Vietnam’s corporate bond market is
showing signs of recovery after a series of local banks announced their
plans to issue more bonds from now through early next year.
Noteworthy are plans by Saigon Thuong Tin Commercial Joint Stock
Bank (SacomBank) to sell 3 trillion VND (168 million USD) worth of
bonds in the third quarter of this year; and Saigon Commercial JS Bank
(SCB) with 1 trillion VND worth of convertible bonds in the first
quarter of next year.
The Vietnam Bond Market Association
(VBMA) made its debut in Hanoi on August 14, setting the stage to
further spur the development of the bond market and other financial
tools in the country.
ASEAN plans to join China, Japan and
the Republic of Korea (RoK) in setting up a multibillion-dollar
bond-guarantee fund so firms can more easily raise capital and invest
in the region, said “The Nation” newspaper of Thailand on July 20.
“China, Japan and RoK, have already committed to contributing to the
fund with an initial investment of about 1 billion USD," a source told
the newspaper.
