Government fails to sell 2-yr bonds at auction
04-OCT-2008 Intellasia | Reuters
Oct 4, 2008 - 7:00:00 AM
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Vietnam's State Treasury has failed to sell any bonds in an auction of two-year debt worth 1 trillion dong on Thursday because the offer attracted no bidders, the Hanoi stock exchange said.
At a government debt auction last Friday, state-run Vietnam Development Bank, which sells debt on behalf of the government, raised 85 billion dong from the sale of 15-year bonds at an annual yield of 15% to three bidders.
Fixings for two-year government bond yields advanced to 16.5% on Thursday after the US Senate endorsed a revised US$700 billion plan to tackle a financial crisis, from 16.4% on Wednesday and 16.48% a week ago.
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