Hoang Thi Minh Huyen Analyst, Bao Viet Securities Notably, the total issuance volume in August accounted for over 25 per cent of the total corporate bond issuance volume in 2020. The issuance volume that month broke the record with over VND100 trillion ($4.35 billion) in corporate bonds. Enterprises issuing bonds before September 1, 2020 – the effective date of Decree No.81/2020/ND-CP on amendments to Decree No.163/2018/ND-CP dated December 4, 2018 on issuance of corporate bonds – might explain the uprising corporate bond issuance volume. Decree 81 was issued to raise the standards on corporate bond issuance, limit private issuance to minimise the risks for individual investors, and also increase the responsibility of parties participating in the process of issuing corporate bonds. Accordingly, during the last four months of 2020, the total issued value dropped significantly to a monthly average of below VND25 trillion ($1.09 billion). In terms of sectors, albeit a decline in the last quarter of 2020’s issuance volume, real estate groups witnessed the largest corporate bond issuance volume in 2020 of over VND140 trillion ($6.09 billion), accounting for over 35 per cent of total issuance value at an average coupon rate of 10.52 per cent. Next was the… Read full this story
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