Real estate firms accounted for 32.1 per cent of the total market, with bond issuance reaching its highest level since the beginning of 2023, according to a report by the Vietnam Bond Market Association. Other major issuers included Lan Việt Real Estate Company Limited with VNĐ4.1 trillion, BIM Land with VNĐ2.33 trillion, and Tân Liên Phát Tân Cảng Logistics and Real Estate JSC with VNĐ2 trillion. The sluggish property market and reduced cash flows have forced many real estate developers to negotiate with bondholders to extend bond redemption dates. Key players in the real estate market, such as Sovico, Novaland, Hưng Thịnh, and Bamboo Capital, are all seeking extensions for multiple bond tranches. The corporate bond market has experienced a boom in recent years, driven by increased capital demand from property developers and banks.

Source: Viet Nam News October 24, 2023 13:51 UTC