According to VNDirect Securities Corporation, in the first quarter of 2025, there were 10 successful domestic corporate bond issuances, with a total issuance value of about VND 25,104 billion, down 84% compared to the fourth quarter of 2024 and down 12.8% compared to the same period last year.

Of which, there were only 2 private issuances, with a total issuance value of VND 2,000 billion, accounting for 8% of the total issuance value; 8 public issuances with an issuance value of VND 23,104 billion, accounting for 92% of the total issuance value.

Private corporate bond issuance activities were sluggish in the first quarter of 2025 when the total issuance value decreased sharply by 98.7% compared to the fourth quarter of 2024 and decreased by 86.8% compared to the same period last year.

In contrast, public issuance activities warmed up in the first quarter of this year, with total issuance value increasing by 294% compared to the fourth quarter of 2024 and increasing by 68.7% compared to the same period last year.

Analyst Nguyen Ba Khuong of VNDirect Securities Joint Stock Company said that in recent years, private corporate bond issuance activities have often been quiet in the first quarter and gradually warmed up in the following quarters.

In fact, the first quarter of each year is often the time when capital demand of enterprises is at a low level, and the first quarter is also often the quarter with the lowest credit growth of the whole year. Therefore, the issuance of corporate bonds by enterprises in general and by the banking group in particular is often low in the first quarter.

Specifically, 2 successful private issuances in the first quarter of 2025, including 1 issuance by Asia Commercial Joint Stock Bank with an issuance value of VND 1,500 billion, with a term of 2 years and an issuance interest rate of 5.6%/year, and 1 issuance by Rong Viet Securities Joint Stock Company, with an issuance value of VND 500 billion, with a term of 1 year and an issuance interest rate of 8.2%/year.

Corporate bond issuance activities to the public in the first quarter of 2025 warmed up as a number of banks actively issued bonds to the public.

Low deposit interest rates are favorable conditions for banks to actively issue public bonds in the first quarter of 2025.

6 out of 8 corporate bond issuances to the public in the first quarter of 2025 were by the banking group, with a total issuance value of more than VND 17,800 billion, accounting for 77.1% of the total value of bonds issued to the public in the first quarter of 2025.

Source: https://hanoimoi.vn/phat-hanh-trai-phieu-doanh-nghiep-ra-cong-chung-tang-manh-trong-quy-i-700825.html