Nhan Dan Television – Business and Law program, June 1, 2024.

During 2015-2023, 330 real estate companies issued privately placed corporate bonds in the domestic market with a total issuance value of VND 726,300 billion and an average issuance interest rate of 10.15% per year. In April 2024, the private placement corporate bond market recorded its highest issuance value since the beginning of the year, with 13 new offerings totaling VND 13.9 trillion, up 29.1% from the previous month and equivalent to 5.2 times the value in the same period a year earlier. In May 2024, 28 bond issues from 24 issuers, worth VND 15,000 billion, will mature. Of this amount, VIS RATING estimates that approximately VND 4,700 billion, equivalent to 30%, is at risk of delayed repayment when due in May 2024. Of the VND 4,700 billion in high-risk bonds, approximately VND 4,000 billion belongs to several issuers highly likely to delay principal repayments at maturity because of weak cash flow and depleted cash reserves. The remaining VND 700 billion in bonds at high risk of a first-time payment delay are mostly from issuers in the residential real estate sector. Overall, privately placed corporate bonds maturing in 2024 total more than VND 300,000 billion, the highest level in the past three years. The real estate sector accounts for approximately 44%, with 92 real estate companies having corporate bonds worth approximately VND 100,000 billion due to mature. Over the next 12 months, 19% of outstanding bonds, with a total value of VND 221,000 billion, will mature. An estimated 10% of these are at high risk of a first-time payment delay, concentrated primarily in the real estate sector.

Link: https://nhandantv.vn/10-00-ttpluat-rui-ro-doanh-nghiep-tiep-tuc-khat-no-trai-phieu-d251653.htm

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