The Vietnam Bond Market Association (VBMA) has released its bond market report for the week of October 27–31, 2025.
On October 29, 2025, the State Treasury initially offered VND 13,000 billion in government bonds across various tenors: 5-year (VND 5,000 billion), 10-year (VND 6,000 billion), 15-year (VND 1,500 billion), and 30-year (VND 500 billion). Subsequently, the Treasury added an extra VND 3,000 billion in 10-year bonds to the auction.
By the end of October 2025, cumulative government bond issuances reached VND 283,429 billion across 5 to 30-year tenors, fulfilling 56.69% of the annual target.
In the corporate bond segment, VBMA data compiled from HNX and SSC (based on issuance and repurchase dates from HNX’s platform, subject to updates) shows 42 corporate bond issuances in October 2025, totaling VND 57,192 billion.
Source: VBMA
Year-to-date, corporate bond issuances totaled VND 481,944 billion, comprising 28 public offerings worth VND 50,583 billion (10.5%) and 380 private placements worth VND 431,361 billion (89.5%).
Looking ahead, several companies plan significant bond issuances. BAF Vietnam Agriculture JSC’s board approved a public bond issuance of up to VND 1,000 billion in 2025. These non-convertible, unsecured bonds have a 3-year tenor, VND 100 million face value, and 10% annual interest.
Asia Commercial Bank (ACB) also approved a third private bond issuance of up to VND 20,000 billion in 2025, divided into 20 tranches. These bonds have a maximum 5-year tenor and mixed fixed/floating interest rates.
Conversely, in October 2025, companies repurchased VND 9,948 billion in bonds. Year-to-date early redemptions reached VND 247,053 billion, up 49.4% from 2024. Banks led with 66.7% (VND 164,855 billion) of early redemptions.
In the final two months of 2025, VND 32,718 billion in bonds will mature. Real estate leads with VND 12,726 billion (38.9%), followed by banking at VND 8,090 billion (24.7%).
