Businesses refrain from issuing bonds due to COVID-19 epidemic
The volume of corporate bonds issued during February has reduced remarkably compared to the previous month due to the negative impacts of the COVID-19 epidemic on the stock market.
HCMCity (VNA) – The volume of corporate bonds issued during February hasreduced remarkably compared to the previous month due to the negative impactsof the COVID-19 epidemic on the stock market.
Accordingto a report released by SSI Securities Corporation on March 10, a total of 15firms issued bonds in February worth a total 5.574 trillion VND (around 240million USD). Real estate companies accounted for 72 percent of the bond value.
Thenumber is only equal to 41 percent of the value of bonds issued in January.
Forthe two-month period, a total of 19.4 trillion VND worth of corporate bondswere issued with an average maturity of 4.75 years and interest rate of 10.07percent per annum.
Realestate firms accounted for 60 percent of the total volume (nearly 11.64 trillionVND).
Onlytwo banks issued bonds during January-February, which are the Asia CommercialBank (ACB) with 230 billion VND worth of 10-year bonds, and the Tien PhongCommercial Bank (TPBank) with 552 billion VND worth of 7-year bonds.
The stock market had a difficult time in February with the benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) ending the month plummeting 5.81percent to 882.19 points. The VN-Allshare and VN30 Indexes also dropped 2.97 percent and 1.96 percent, respectively, from January./.
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The Vietnamese stock market had a tough time throughout February with most stocks weakening amid concern about the global spread of the coronavirus disease(COVID-19).
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Illustrative image (Photo: VNA) 
