Hanoi successfully bids VND1 trillion in municipal bonds

Nhan Dan – The State Treasury - Hanoi branch successfully carried out an auction on September 25 for VND1 trillion (US$47 million) worth of three year Hanoi municipal bonds which yield an effective interest rate of 8.7% per annum.

Hanoi bonds issued for the capital’s development and construction
Hanoi bonds issued for the capital’s development and construction

Each bond with a face value of VND100,000 is scheduled to be issued today, September 27, and the maturity date is Sep 27, 2016.

The proceeds raised from bond sale will be used for the city’s eight key projects aiming to minimise traffic congestion, ease hospital overload and improve drainage capacity.

Earlier, Hanoi sold municipal bonds with a face value of VND1 trillion at an effective 8.7% annual interest rate with a five-year term.