Vietnam returns to the international market with $1 billion bond

After a four-year absence, Vietnam has priced a 10-year issue that fared well on its first day of trading compared with the early January issues from Indonesia and the Philippines.

The wait is finally over. In the early hours of Tuesday morning Hong Kong time, the Socialist Republic of Vietnam executed a $1 billion 10-year bond offering that became the country's second sovereign bond issue since October 2005.

Initial price guidance for the 144a Reg-S deal was set at a maximum yield of 7%. During final guidance, this was revised to 6.95% to 7%. The bonds were then reoffered with a 6.75% coupon at 98.576 to yield 6.95%, resulting in...

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