Hong Kong paper hails Vietnam’s return to int’l bond market

After a four-year absence, Vietnam came back to the international bond market on Jan. 26 with a 10-year issuance that “fared well” on its first day of trading compared with the early January issues from Indonesia and the Philippines.

In an article posted on Jan. 27, Hong Kong’s FinanceAsia online newspaper said Vietnam executed a 1 billion USD, 10-year bond offering that became the country’s second sovereign bond issue since October 2005.

Barclays, CitiBank and Deutsche Bank, which arranged the deal, had been quietly confident that they would attract a sizeable number of bids and, in the end, the order book comprised 200 accounts.

The deal was 2.4 times subscribed with a total order amount of 2.4 billion USD.

The paper said although rating agencies put Vietnam on a negative watch, there was still a high-quality pool of real money interest from the US, Europe and Asia.

Final allocation saw 56 percent of the deal go to the US, 16 percent to European investors and 28 percent to Asia.

Vietnam was the third Asian sovereign issuer in the global bond market this year, after Indonesia and the Philippines. The country made a debut offering on the international bond markets in October 2005.

Tags: Vietnam finance news, Vietnam Government bonds

Posted by VBN on Jan 31 2010. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry