Research and News

July 2025 Bond Spotlight: Issuance volume slowed down after a surge in June

18/08/2025

FiinRatings – a Strategic Partner of S&P Global – has released its July 2025 Bond Market Spotlight: “Issuance volume slowed down after a surge in June.” After the strong momentum in June, Vietnam’s corporate bond market in July witnessed a sharp contraction in both issuance value and number of deals, mainly from the banking sector. At the same time, year-end maturity pressure has been mounting, particularly in real estate, while secondary market liquidity has remained stable, led by banks and real estate companies.


June 2025 Bond Spotlight: Bond Issuance By Commercial Banks Surges To Meet High Credit Growth Demand

16/07/2025

FiinRatings – a Strategic Partner of S&P Global – is pleased to release the June 2025 edition of the “Bond Market Spotlight” report, providing in-depth analysis of market developments and key issuance trends in the first half of the year. Notably, bank bonds continued to dominate the market with a significant increase in share, reflecting rising demand for Tier 2 capital amidst robust credit growth and persistently low interest rates.


May 2025 Bond Spotlight: Strong rebound in primary market issuance and initial market recognition of benefits from Greenium

13/06/2025

Vietnam’s corporate bond market witnessed strong growth in May 2025, with total issuance value reaching VND 54.5 trillion—up 11.7% month-on-month—driven primarily by credit institutions. FiinRatings’ latest Monthly Bond Spotlight report provides a comprehensive market overview, highlights active developments in the secondary market, and explores the initial benefits from Greenium in Vietnam.


April 2025 Bond Spotlight: Balancing Against Interest Rate Pressure and Corporate Challenges from Tariff Threats

21/05/2025

The corporate bond market in April witnessed a notable recovery of non-bank issuers after a prolonged period of absence, with total issuance reaching VND 13.2 trillion—driven primarily by enterprises in the Real Estate and Commercial Services sectors.


March 2025 Bond Spotlight: Absence of New corporate bond issuances by Non-Financial Enterprises in the first Two months of 2025

28/03/2025

In the first two months of the year, the corporate bond market had a slow start, with only four issuance rounds recorded. Issuance activity, primarily driven by credit institutions, accounted for 94.6% of the total issued value. Notably, non-financial enterprises were completely absent from the market during this period, with no new issuances recorded.