The Vietnam Bond Market Association (VBMA) has released its weekly bond market report for the period of October 27, 2025, to October 31, 2025.
On October 29, 2025, the State Treasury of Vietnam (STVN) initially offered a total of 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 STVN issued an additional VND 3,000 billion in 10-year bonds.
As of the end of October 2025, the cumulative value of government bond issuances reached VND 283,429 billion for tenors ranging from 5 to 30 years, fulfilling 56.69% of the annual issuance plan.
In the corporate bond market, according to VBMA data compiled from the Hanoi Stock Exchange (HNX) and the State Securities Commission (SSC), as of October 31, 2025, there were 42 corporate bond issuances recorded in October 2025, totaling VND 57,192 billion.
Source: VBMA
Year-to-date, the total value of corporate bond issuances stands at VND 481,944 billion, comprising 28 public offerings worth VND 50,583 billion (10.5% of the total) and 380 private placements totaling VND 431,361 billion (89.5%).
Looking ahead, several companies are planning to issue bonds worth thousands of billions of Vietnamese Dong. For instance, the Board of Directors of BAF Vietnam Agriculture Corporation has approved a public bond issuance plan for 2025, with a maximum value of VND 1,000 billion. These are non-convertible, unsecured bonds with a face value of VND 100 million per bond, a 3-year tenor, and a fixed interest rate of 10% per annum.
The Board of Directors of Asia Commercial Bank (ACB) has also approved a third private bond issuance plan for 2025, divided into 20 tranches, with a maximum value of VND 20,000 billion (face value of VND 100 million per bond). These bonds have a maximum tenor of 5 years and a combined fixed and floating interest rate.
Conversely, in October 2025, companies repurchased VND 9,948 billion worth of bonds. Year-to-date, the total value of early bond repurchases reached VND 247,053 billion, a 49.4% increase compared to 2024. Banks led the early repurchases, accounting for approximately 66.7% of the total (VND 164,855 billion).
In the final two months of the year, VND 32,718 billion worth of bonds will mature. Of this, 38.9% (VND 12,726 billion) belongs to the real estate sector, followed by the banking sector with 24.7% (VND 8,090 billion).
