C-bond Observation
15
April
Mar 2026: High issuances led by the real estate industry
In March, the total value of bond issuance rose 73.9% yoy and x7.3 mom to VND29,910bn, of which MARC was the main issuer with VND10,195.5bn and NTJ with VND8,000bn. The...
17
March
Feb 2026: High issuances on few issuers
In Feb, total value of bond issuance surged 73.5% yoy but down 57.0% mom to VND4,080bn (Fig. 1), of which BID was the sole issuer in banking industry with VND4,000bn...
13
February
Jan 2026: The lowest issuances
- In Jan 2025, the total value of bond issuance dropped to VND3,711bn (Fig.1), -33% yoy and -96% mom. - The Banking issued VND2,221bn with -58% yoy and accounting for...
16
January
Dec 2025: Higher issuances, Lower maturity pressure
The issuances from major sector significantly expanded In Dec 2025, the total value of bond issuance surged to VND84,355bn (Fig.1), 3% yoy and 140% mom. The Banking issued VND56,859bn with...
11
December
Nov 2025: Lower issuances, Higher maturity pressure
The issuances from major sector significantly declined In Nov 2025, the total value of bond issuance slightly increased to VND34,213bn (Fig.1), -6% yoy and -48% mom. The Banking issued VND18,242bn...
13
October
Sep 2025: Lower issuances, higher maturity pressure
In Sep 2025, the total value of bond issuance sharply decreased to VND49,569bn (Fig.1), - 15% yoy and -18% mom. The Banking issued VND33,880bn with -29% yoy and accounting for...
25
September
Nov 2025: Higher issuances, Lower maturity pressure
In Oct 2025, the total value of bond issuance expanded to VND64,396bn, +49% yoy and +27% mom. The Banking issued VND29,235bn with +30% yoy and accounting for 45% of total...
17
September
Aug 2025: Higher issuances, lower maturity pressure
In Aug 2025, the total value of bond issuance increased to VND60,362bn (Fig.1), - 6% yoy and 34% mom. The Banking led the growth with VND33,714bn with -37% yoy and...
07
August
Jul 2025: Lower issuances, higher maturity pressure
In Jul 2025 the total bond issuance dropped to VND43,303bn (Fig. 1), +6% yoy and -65% mom Corporate bond maturities in August are projected to reach VND35,752bn, +433% yoy
Featured Analysis
Market commentary: Sustained demand momentum
Derivatives: Declining liquidity
Market commentary: Extending the uptrend
Mar 2026: High issuances led by the real estate industry
OCB – Brief -[NONRATED] – AGM Business repositioning
Market commentary: Broad-based gains
Accumulation phase ends
