Low Credit, Volatile Stocks – Investors Seek Stable Channels
Over the past year, Vietnam’s financial market has shown a clear shift in capital flow from traditional channels like bank savings to more stable investment products. Savings interest rates at many banks remain low, while the stock market continues to fluctuate due to various macro and psychological factors. As a result, a majority of investors, particularly households and individuals, are seeking low-risk investment channels that offer more stable returns.
In this context, corporate bonds, characterized by fixed interest rates, clear terms, and periodic interest payments, have become a favored option. Compared to highly volatile stocks or low-interest savings, corporate bonds strike a balance between yield and safety, making them suitable for investors with low to moderate risk appetites.
According to the Vietnam Bond Market Association (VBMA) Q3/2025 report, outstanding corporate bonds (TPDN) by the end of Q3/2025 reached approximately 1,270 trillion VND, a 6% increase from the beginning of the year, equivalent to about 7.4% of the economy’s total credit balance. In Q3/2025, the total issuance value of TPDN was 129,319 billion VND, reflecting stable market demand despite a decrease compared to the same period last year.
Proportion of private and public bond issuances over the years, as per VBMA’s Q3/2025 Vietnam bond market report
|
However, VBMA statistics from the beginning of the year show that most bond issuances are still private, targeting only professional investors. Public issuances, which are open to retail investors, account for a small percentage. This scarcity of public offerings contrasts with the growing market demand. Public issuances thus have significant growth potential, especially as transparency and risk management become increasingly important.
F88’s Issuance Highlights
Among issuers, companies with transparent operations, audited financial reports, and a strong track record of bond obligations tend to attract more investors. Recently, F88 stood out by launching its first public bond issuance with a scale of 1,000 billion VND. The plan involves three tranches with a 24-month term and a fixed interest rate of 10% per annum, paid quarterly.
The first tranche, worth 300 billion VND, opens on January 10, 2026. The second tranche, also 300 billion VND, will be distributed in Q1-Q2/2026. The final tranche, valued at 400 billion VND, is scheduled for issuance from Q2 to Q4/2026. Each tranche has a maximum offering period of 90 days, with intervals between tranches not exceeding 12 months. The 10% annual yield is attractive, especially when compared to the prevailing savings interest rates of 4-5% per annum and the average corporate bond rate of 7.18% per annum, as reported by VBMA. The 24-month term suits investors seeking stable mid-term returns, avoiding long-term capital lock-ins while allowing the company to utilize funds effectively.
F88 will issue three tranches with a 24-month term and a fixed 10% annual interest rate.
|
Beyond the competitive yield, F88 attracts attention due to its transparent financial foundation and reliable bond obligation history. Over the years, the company has consistently met its interest and principal payment obligations, even during the challenging period of 2023 when it faced significant media pressure. Transitioning to public issuance, which requires higher transparency standards and approval from the State Securities Commission, underscores F88’s commitment to enhancing its reputation and expanding access to retail investors.
In a volatile market, the search for safe and profitable investment channels has become urgent. Publicly issued corporate bonds, particularly from reputable brands like F88, are providing additional options for professional investors and attractive opportunities for individual investors. This not only helps preserve capital and optimize yields but also reflects a smart shift in capital allocation toward stability and transparency in investment.
– 14:41 02/12/2025
DIC Corp Completes Early Redemption of VND 800 Billion in Bonds
On November 27, 2025, DIC Corp successfully completed the early redemption of VND 800 billion in bonds under the code DIGH2326002, reducing the outstanding value of this bond issuance to VND 200 billion.
Sovico Group Reduces Stake in HDBank
Sovico Group has successfully divested over 65 million shares of HDBank, reducing its ownership stake in the bank to 9.9%.
Is the Era of ‘Lost Trust’ in Corporate Bonds Over?
The corporate bond market is entering a phase of restructuring, marked by a surge in issuances but a sharp decline in buybacks. Concurrently, the Ministry of Finance has proposed new regulations designed to act as a “filter” for the market. These measures aim to enhance transparency and restore confidence, addressing the “trust deficit” that has previously plagued the sector.
Sovico Group Reduces Stake in HDBank
Sovico Group has successfully divested over 65 million shares of HDBank, reducing its ownership stake in the bank to 9.9%.
F88 Launches First-Ever Public Bond Offering with 10% Annual Interest Rate
With a proven track record of timely payments and an attractive 10% annual interest rate, F88’s publicly issued bonds stand out as a compelling investment opportunity. Their stability and competitive returns are poised to capture the attention of discerning investors seeking reliable growth.
