According to the plan, bond auctions will be held on November 5, 12, 19, and 26, with respective issuance volumes of 13,000 billion VND, 13,000 billion VND, 14,000 billion VND and 14,000 billion VND. The auctions are organised under the Government bond issuance plan for the fourth quarter of 2025, aimed at ensuring sufficient capital mobilisation for the State budget and development investment, while contributing to the completion of the Government bond yield curve in the market.
According to the State Treasury, in the third quarter of 2025, the total volume of Government bonds mobilised reached about 54,300 billion VND, fulfilling 45.2% of the quarterly target (120 trillion VND). As of the end of September 2025, cumulative capital mobilisation since the beginning of the year reached about 255,688 billion VND, equivalent to 51.1% of the fundraising plan of 500 trillion VND for the whole year.
Regarding the issuance term structure, bonds with maturities from 5 to 30 years continue to account for the majority share, with the three key terms of 5, 10, and 15 years representing about 98.6% of the total issuance volume. The average successful bidding interest rates in the third quarter of 2025 ranged from 3.0% to 3.9% per year: about 3.03–3.24% for five-year bonds, 3.59–3.79% for 10-year bonds, 3.90% for 15-year bonds, and 3.64% for 30-year bonds.
During the implementation process, the State Treasury will continue to closely monitor market developments and the capital use demand of the State budget and may adjust the issuance volume for each auction session in November 2025 to align with market conditions.
The goal is to ensure fundraising progress while maintaining stability, flexibility, and efficiency of the Government bond market. In addition, the State Treasury has requested that market makers and the Ha Noi Stock Exchange work closely together to effectively implement the bond issuance plan for November 2025.
