vietnam-returns-to-the-international-market-with-1-billion-bond

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 a very small new issue premium. The yield equated to a spread of 332.7bp over the 10-year benchmark US Treasury.

Barclays, Citi and Deutsche Bank, which arranged the deal, had been quietly confident that they'd...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222