Sunday , June 23 2024

Double digit surge in corporate bond buyback

The value of corporate bond buyback this year rose 14% year-on-year to VND161 trillion ($6.58 billion) as of November 25, according to the Ministry of Finance.

Issuance in the period, meanwhile, plunged nearly 32% to VND331.8 trillion, it added.

“Corporates are buying back the bonds they have issued before maturity, which shows how difficult the market is. Declining faith has caused major impact on the corporate bond market,” Deputy Finance Minister of Finance Nguyen Duc Chi said Thursday on the sidelines of a cabinet meeting.

Regaining investors’ faith is the most urgent task, he said, adding that in the long run, the bond market will grow sustainably.

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