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, an additional VND 3,000 billion in 10-year bonds was offered.
By the end of October 2025, the total value of government bonds issued reached VND 283,429 billion across tenors ranging from 5 to 30 years, fulfilling 56.69% of the annual issuance plan.
In the corporate bond market, VBMA data compiled from HNX and SSC (based on issuance and repurchase dates from HNX’s platform, subject to updates) shows that as of October 31, 2025, 42 corporate bond issuances were recorded in October, totaling VND 57,192 billion.
Source: VBMA
Year-to-date, the total corporate bond issuance value stands at VND 481,944 billion, comprising 28 public offerings worth VND 50,583 billion (10.5% of total) and 380 private placements worth VND 431,361 billion (89.5%).
Looking ahead, several companies plan to issue bonds worth thousands of billions of dong. Notably, BAF Vietnam Agriculture JSC’s Board approved a public bond issuance plan for 2025, totaling up to VND 1,000 billion. These non-convertible, unsecured bonds have a face value of VND 100 million each, a 3-year tenor, and a fixed interest rate of 10% annually.
Asia Commercial Bank (ACB)’s Board also approved a third private bond issuance plan for 2025, divided into 20 tranches totaling VND 20,000 billion (face value: VND 100 million each). These bonds have a maximum 5-year tenor with a hybrid fixed-floating interest rate structure.
Conversely, in October 2025, companies repurchased VND 9,948 billion in bonds. Year-to-date, early bond repurchases totaled VND 247,053 billion, a 49.4% increase from 2024. Banks led with 66.7% of early repurchases (VND 164,855 billion).
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 with VND 8,090 billion (24.7%).
