Vietnam Corporate Bond Market Report – February 2026: Muted Issuance, with Maturity Pressure Expected to Rise from March and Q2/2026

FiinGroup is pleased to introduce the February 2026 issue of the “Vietnam Corporate Bond Market” report. This report aims to provide clients with up-to-date insights as well as a comprehensive analysis of key developments in the corporate bond market.

Key highlights from the report:

• As of 9 March 2026, the outstanding corporate bond market stood at approximately VND1,389 trillion, slightly declining compared to end-January 2026 and end-2025, reflecting muted primary market conditions in the early part of the year.
• Primary issuance remained subdued in February, totaling only VND3.4 trillion (-34% MoM), driven almost entirely by public offerings from the Banking sector.
• Early buybacks reached VND 2.7 trillion in February 2026 (+234.6% MoM), with Real Estate accounting for the largest share (~69%).
• Secondary market liquidity continued to decline, with average daily trading value at around VND5 trillion (-19.3% MoM), while trading remained concentrated in Bank and Real Estate bonds.
• CB payment obligations are expected to increase sharply from March and Q2/2026, bringing total principal and coupon obligations in 1H2026 to approximately VND122.5 trillion (+49.2% YoY), mainly driven by non-bank issuers, particularly the Real Estate sector.

Figure 1: CB payment obligations (principal and interest) in the first six months of 2026 are expected to exceed VND122.5 trillion, +49.2% YoY

 View the full Corporate Bond Market Report HERE

*Source: Data and analysis extracted from the Bond Report on the FiinPro-X platform — a comprehensive financial information and analytics solution

 Explore & experience now: https://fiingroup.vn/en/fiinpro-x.html