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HASTC sells 27.3 bn USD in Gov’t bonds   2008-11-02 - VNA

The Hanoi Securities Trading Centre closed a bidding session with 450 billion VND (27.3 million USD) of Government bonds sold on Oct. 30.

The State Treasury has mobilised 2.26 trillion VND (137 million USD) after eleven bond tender sessions through the Hanoi Securities Trading Centre so far this year.

However, the State Treasury fells short of the initial offer of 500 billion VND to be put up for sale during the session.

The two-year bonds, each with a face value of 100,000 VND (around 6 USD), will be released on Nov. 3. Investors will earn an interest rate of 14.5 percent per year. The five participating buyers for the tender registered to purchase up to 1.45 trillion VND (87.9 million USD), nearly three times the value of the final release.

In total, the State Treasury has mobilised 2.26 trillion VND (137 million USD) after eleven bond tender sessions through the Hanoi Securities Trading Centre so far this year. All the bonds have a two-year term.

According to the Ministry of Finance, money raised from the bonds will be used to refurbish schools, local health care clinics and resettlement projects. Some funds will also be used for irrigation projects and hydro-power plants.

Earlier this year, the Government directed the Ministry of Planning and Investment, other relevant ministries and the People’s Committees of cities and provinces to use the funds effectively for the completion of essential projects.



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