Hanoi Stock Exchange (HNX) has recently reported the tender results of government-guaranteed bonds issued by the State Treasury on February 16, 2012.
In details, the total offered volume was four trillion dong for two tenors of 3-years (two trillion dong) and 5-years (two trillion dong).
For 3-year tenor bond, the bid volume was up to 7.909 trillion dong, nearly four times higher than the offered volume. The registered coupon rate ranged between 11.37 percent and 12.2 percent per annum (p.a.).
At this tenor, the State Treasury succeeded in raised two trillion dong, at the yield of 11.6 percent p.a., lower than the coupon rate of the bond (12.1 percent p.a.). This winning yield also decreased 0.3 percentage points from the previous tender.
For 5-year tenor bond, the bid volume reached up to 7.535 trillion dong, 3.7 times higher than the offered volume. The registered coupon rate was about 11.37-12.3 percent p.a.
As the results, the State Treasury has sold out two trillion dong worth of 5-year tenor bond at the yield of 11.68 percent p.a., lower than the coupon rate of the bond (12.15 percent p.a.), down 0.3 percentage points from the previous tender.
Thus, the State Treasury has raised four trillion dong, equalling to the success ratio of 100 percent with the lower yield by 0.3 percentage points from the previous tender.
In two consecutive days of bond tenders on HNX, as much as nine trillion dong has been raised successfully.
In the interbank market, according to the figures from the State Bank of Vietnam (SBV) on February 14, the interbank average interest rate for overnight term was only 12.33 percent p.a., down 2.63 percentage points from a week earlier, 1-week term at 13.51 percent p.a. and 1-month term at 13.08 percent p.a., down 1 and 0.24 percentage points from the previous week.