According to ACB Securities (ACBS) Q2 bond market report this year, businesses conducted 163 new issuances totaling 240 trillion VND, a 5,6-fold increase from the previous quarter and comparable to the same period last year.

Banks continued to lead in bond mobilization, raising approximately 113 trillion VND, accounting for about 47%. The real estate sector followed closely with about 107 trillion VND.

New bond issuance volume by quarter. Photo: ACBS

In Q2, the real estate sector's issuance value doubled compared to the same period last year. However, ACBS noted that debt security mobilization remained concentrated among a few major developers.

Data from ACBS showed Vinhomes raised about 36 trillion VND. Including related businesses, the total issuance value reached over 57 trillion VND, equivalent to nearly 53% of the entire sector.

"This indicates that the real estate sector's issuance growth momentum remains highly concentrated in a few large enterprises," the ACBS report stated.

Vinhomes' largest bond issuance was valued at 15 trillion VND, with a two-year maturity, applying an interest rate of 12% per annum for the first four periods. Yields for subsequent periods are determined by the reference interest rate plus 6,1 percentage points, but not lower than 11,5% and not exceeding 12,5% per year.

Meanwhile, despite still leading in total mobilized funds, new bond issuances by banks decreased by 37% compared to the same period last year. ACBS attributed this primarily to banks' continued high deposit interest rates, around 8,5% per year.

Additionally, a high comparison base was a notable factor. In Q2 last year, banks mobilized the largest amount of bonds since 2022.

Also according to ACBS data, as of 30/6, the total size of Vietnam's outstanding corporate bond market reached approximately 1,47 quadrillion VND, up 7% from the end of Q1 and equivalent to 11,3% of GDP. Banks and real estate continued to dominate the market, accounting for 81,4%.

The total face value of bonds repurchased in Q2 was 139,7 trillion VND, a 43% increase compared to the same period last year. Debt securities maturing in the next 12 months are projected to be about 254 trillion VND, a 30% decrease from a year prior, with the peak expected in Q3 next year.

Trong Hieu