ietnam sells 129 bln dong govt bond at auction
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Learn to Trade with a FREE Guide.HANOI, Aug 1 (Reuters) - The Vietnam Development Bank has raised 129 billion dong ($7.82 million) by selling government bonds at an auction, the Hanoi stock exchange .HASTCI said.
The 15-year bond was sold at an annual yield of 15 percent to three unidentified bidders at an auction on Thursday after they bid for yields of between 14.5 percent and 20 percent, the exchange said in a statement issued late on Thursday.
The state-run bank also offered five-year and 10-year bonds worth 400 billion dong but bids for the five-year debt of 21-22 percent and 20.5 percent for the 10-year debt were all above the 15 percent ceiling the bank was prepared to accept, the statement said.
The Vietnam Development Bank and the Vietnam Bank for Social Policies are Vietnam's two lenders that provide soft loans to support the government's development projects such as infrastructure construction, agricultural production and exports.
The development bank issues bonds on behalf of the government to raise funds for these projects.
In the auction on July 16, the Vietnam Development Bank sold 15-year bond worth 7 billion dong also with yield of 15 percent. ($1=16,496 dong) (Reporting by Ho Binh Minh; Editing by Clarence Fernandez)
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