State Treasury to Issue 2-year Bonds across Vietnam

2:53:20 PM | 10/1/2009

Vietnam’s State Treasury will issue two-year treasury bonds at an annual yield of 9% beginning October 1 through December 25 across the country, the Ministry of Finance said on its website.
 
The bonds are denominated in Vietnamese dong. State-run organizations are not allowed to use state budget to buy the treasury bonds.
 
For those who want to sell the debts before the mature date, the treasury will pay a yield of 4% for 6-12 months, 8.4% for 12-18 month and 12.9% for 18-24 months.
 
Holders who sell the bonds within the first six months will not receive the yield, the ministry said.
 
Vietnam is in dire need of capital for developing infrastructure projects nationwide. It plans to use VND56 trillion from bond sales to fund national key projects this year. (www.mof.gov.vn, Financial Times Sept 30 p2, Labor Sept 30 p3), Financial Times Sept 30 p2, Labor Sept 30 p3)