Vietnam turns to domestic bond market to raise dollar funds

23 Mar 2009

Vietnam sold $100m of one year bonds on Friday with a coupon of just 3%, illustrating the difference in pricing between Asia’s onshore and offshore capital markets.

Vietnam sold the bonds to domestic financial institutions as part of a plan to soak up local dollar liquidity and discourage Vietnamese banks from sending money overseas. The government is expected to sell a further $200m of two and three year bonds at auctions this week and raise ...

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