Vietnam Maritime Commercial Joint Stock Bank (MSB) has just announced the results of its bond offering. Accordingly, MSB has just issued the MSBL2427003 bond lot with a term of 3 years, expected to mature on May 16, 2027.
The total issuance volume is 1,000 bonds with a par value of VND 1 million/bond, corresponding to a total issuance value of VND 1,000 billion. The issuance interest rate is 3.9%/year.
According to data from the Hanoi Stock Exchange (HNX), since the beginning of the year, MSB has mobilized a total of 3 bond lots. The previous 2 bond lots were MSBL2427001 and MSBL2427002.
Of which, the MSBL2427001 bond lot has a total issuance value of VND800 billion and the MSBL2427002 bond lot has a total value of VND2,000 billion. The 2 bond lots were issued in April, with a term of 3 years and an issuance interest rate of 3.9%/year. Thus, within the first 5 months of 2024, MSB has mobilized VND3,800 billion from the bond channel.
Previously, on May 15, Bac A Commercial Joint Stock Bank (Bac A Bank) issued bond code BABL2427002 with a total value of VND 500 billion. The term is 3 years, expected to mature in 2027 with an issuance interest rate of 5.1%/year.
On May 14, VietABank also issued a lot of bonds VABCLH2431001 with a total value of VND 230 billion, 7-year term, expected to mature in 2031.
On May 10, two bond codes BIDLH2431001 and TCBL2427002 were issued by the Bank for Investment and Development of Vietnam (BIDV) and the Vietnam Technological and Commercial Joint Stock Bank (Techcombank) .
Specifically, BIDV 's bond lot BIDLH2431001 was issued on May 10, 2024 with a term of 7 years, issued in the domestic market with a total value of VND950 billion, with an interest rate of 5.78%/year. This is the first bond lot issued by BIDV this year.
Techcombank 's TCBL2427002 bond lot has a total issuance value of VND1,500 billion, a term of 36 months, expected to mature on May 10, 2027 with an issuance interest rate of 4.8%/year. Since the beginning of the year, Techcombank has mobilized a total of VND4,500 billion in bonds.
Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) also issued bond lot HDBL2427001 on May 9, 2024 with a total value of VND 2,000 billion, 3-year term, issuance interest rate of 4.8%/year.
Thus, in May alone, a total of 6 banks mobilized capital through the bond channel, including HDBank, Techcombank, BIDV, MSB, Bac A Bank and VietABank, with a total mobilized amount of VND 6,180 billion.
Regarding the upcoming issuance plan, HDBank has approved the plan to issue individual bonds in phase 1 in 2024, divided into two batches with a total maximum value of VND 8,000 billion and VND 12,000 billion, respectively.
BIDV plans to issue VND8,000 billion in private bonds with a term of over 5 years for phase 1 and a maximum of VND6,000 billion in bonds for phase 2 in 2024 to increase tier 2 capital. According to BIDV, tier 2 capital will be used by the bank to lend to the economy, invest and/or carry out other permitted activities according to law.
On the other hand, many banks have also made moves to buy back bonds before maturity. Specifically, Southeast Asia Commercial Joint Stock Bank (SeABank) announced the early purchase of the entire VND500 billion SSBH225002 bond lot issued on May 5, 2022, with a term of 3 years, expected to mature on May 5, 2025.
MSB also bought back all 1,000 billion VND of bonds coded MSBL2225002 issued on May 17, 2022, with a term of 3 years, expected to mature on May 12, 2025.
According to data recorded by FiinRatings as of May 2, 2024, in April, the market welcomed 13 new issuances with a total value of VND 13,900 billion, up 29.1% compared to the previous month and equivalent to 5.2 times compared to the same period last year. In addition to the Real Estate sector still dominating, banks also strongly increased capital mobilization activities from the bond channel.
FiinRatings commented that banks are stepping up bond issuance in the context of market liquidity showing signs of decreasing surplus, reflected in the overnight interbank interest rate jumping to over 4% in April.
This is the result of the SBV continuously withdrawing liquidity through the open market operations (OMO) channel in recent times; at the same time, the mobilization of deposits from residents by credit institutions also slowed down in the first quarter of 2024, recording a decrease of 0.76% compared to the end of 2023 (data from the General Statistics Office).
Banks also increased mobilization through bond channels to supplement medium- and long-term capital sources, when regulations on the ratio of short-term capital sources for medium- and long-term loans were tightened, and at the same time to balance capital sources to prepare for credit growth to recover this year .
Source: https://www.nguoiduatin.vn/ngan-hang-day-manh-huy-dong-von-qua-kenh-trai-phieu-a664770.html
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