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Vietnam to sell $100 mln worth of bonds
 
The Treasury plans to raise US$100 million at a government bond auction this week, the first of a series to sell $300 million in dollar-denominated bonds this month.

The Hanoi over-the-counter exchange said in a statement it would auction the one-year notes on Friday and the debt would be issued on March 24.

On March 24, the Hanoi exchange will auction two-year government notes to raise another $100 million, with an issue date of March 26.

On March 27, it will sell three-year bonds to raise another $100 million with the issue date expected to be March 31.

Proceeds from the dollar-denominated bonds will be used to honor import contracts for equipment for thermal power plants, Deputy Minister of Finance Nguyen Cong Nghiep has said.

State-run Bank for Investment and Development of Vietnam (BIDV) will withdraw up to $100 million from its offshore accounts to bid for the dollar-denominated Vietnamese government bonds this week, the Vietnam Investment Review newspaper said, quoting a bank official.

The yield on the benchmark five-year note declined seven basis points to 9.14 percent, according to a daily fixing price from about 10 banks compiled by Bloomberg.
Source: Reuters
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