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HSBC is first foreign bank to issue bonds in Vietnam

HSBC issued VND600 billion ($25.7 million) worth of bonds on Monday, becoming the first foreign bank to do so in Vietnam.

Ngày đăng: 22 tháng 3, 2021
Cập nhật: 7 tháng 1, 2022
Lượt xem: 39403366
Nguồn: vnexpress

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HSBC issued VND600 billion ($25.7 million) worth of bonds on Monday, becoming the first foreign bank to do so in Vietnam.

HSBC issued VND600 billion ($25.7 million) worth of bonds on Monday, becoming the first foreign bank to do so in Vietnam.

The bonds have a coupon rate of 5.8% and a term of 3 years.The lender said the issue was oversubscribed.

“We plan to become a regular issuer as we seek to position our franchise to continue to be a leading foreign bank,” said Tim Evans, managing director of HSBC Vietnam. in the market,” Tim Evans, CEO of HSBC Vietnam, said in a statement.

The Bank will use the proceeds to increase operating capital and diversify local currency sources.

Mr. Ngo Dang Khoa, Global Market Manager, said that Vietnam is one of the fastest growing bond markets in Southeast Asia with the number of issues accounting for 9.01% of GDP in 2018 and 11.3 percent last year.

But it is still small compared with 20-50% in other Asian countries like South Korea and Singapore, he said.

So the country needs to do more to encourage investors to buy bonds and make its regulatory framework more comprehensive, he said.

Corporate bond issuances increased by 50% year-on-year in the first six months of the year to VND159 trillion ($6.8 billion), according to the Hanoi Stock Exchange.More than 59% of that is from banks and real estate developers.

The government recently made moves to tighten bond issuances amid concerns that companies will not be able to repay their debts.

It issued a new decree limiting companies to issuing twice a year and totaling five times their equity.


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