HÀ NỘI — The corporate bond market returned to a positive development in May, with over VNĐ40.2 trillion (US$1.52 billion) successfully raised, equivalent to nearly one-third of the total bonds issued in the first five months of the year.

According to data compiled by the Vietnam Bond Market Association (VBMA) from the Hanoi Stock Exchange (HNX) and the State Securities Commission (SSC), as of May 29, 2026, the market had 29 private placements totalling VNĐ36.26 trillion and four public offerings worth nearly VNĐ4 trillion. The total capital raised through the bond market in May reached over VNĐ40.2 trillion.

Cumulatively for the first five months of the year, the value of private placements reached VNĐ107.02 trillion, while the amount of bonds offered to the public reached VNĐ20.33 trillion.

In May, businesses repurchased approximately VNĐ19.78 trillion worth of bonds ahead of schedule, a 9 per cent decrease compared to the same period last year.

However, payment pressure remains, with the volume of bonds maturing in the remaining seven months of 2026 estimated at VNĐ141.9 trillion.

On the secondary market, the total value of individual corporate bond transactions in May reached VNĐ120.13 trillion, a decrease of 8.3 per cent compared to the average of the previous month.

Commercial banks continue to be the largest issuer group in the market. Techcombank led with a total issuance value of VNĐ7.5 trillion, followed by MB with approximately VNĐ7.15 trillion and BIDV with nearly VNĐ3.7 trillion.

The second largest issuer group was the real estate sector with a total value of approximately VNĐ7.18 trillion, accounting for over 18 per cent of the market. Vinhomes is the most prominent company, successfully raising VNĐ5 trillion through three private placement bond tranches.

According to VBMA, many large enterprises are also preparing to continue raising capital through bond issuance. For example, Vietcombank has approved a plan to issue a maximum of VNĐ10 trillion in private placement bonds in 2026, while Vinhomes Joint Stock Company has also approved a private placement of up to VNĐ4 trillion in bonds.

Experts said that the upcoming large-scale issuance by leading banks and enterprises show that the corporate bond market remains an important medium- and long-term capital raising channel for the economy. However, the significant maturity pressure in the second half of 2026 will also be a considerable challenge for many issuers. — BIZHUB/VNS