Vietnam Development Bank to Auction 800 Billion Dong of Bonds

Vietnam Development Bank will sell 800 billion dong ($48.3 million) of bonds next week, according to a statement from the Hanoi Securities Trading Center (HaSTC), where the auction will take place.

The state-owned bank, which raises capital for government projects, will auction 400 billion dong of 15-year bonds and 400 billion dong of 10-year notes on Sept. 11, according to the e- mail statement.

The Hanoi-based lender last month raised 217 billion dong by selling debt, less than the planned 600 billion dong, the securities trading center said in a statement on its Web site. The notes, which will mature in 10 and 15 years, were sold with a coupon of 15%, the statement said.

Viet Nam Development Bank plans to sell 23 trillion dong of bonds this year, compared with 24.1 trillion dong last year, it said in March.

Vietnam's government five-year bonds yesterday rose for the second day, with the yield on the benchmark note falling to 16.13%, the lowest since May 30, according to a daily fixing price from 10 banks compiled by Bloomberg. (Bloomberg)