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Vietnam fails to sell 2-yr govt bonds at auction

Reuters - Friday, October 3

HANOI, Oct 2 - Vietnam's State Treasury has failed to sell any bonds in an auction of two-year debt worth 1 trillion dong on Thursday because the offer attracted no bidders, the Hanoi stock exchange said.

At a government debt auction last Friday, state-run Vietnam Development Bank, which sells debt on behalf of the government, raised 85 billion dong from the sale of 15-year bonds at an annual yield of 15 percent to three bidders.

Fixings for two-year government bond yields advanced to 16.5 percent on Thursday after the U.S. Senate endorsed a revised $700 billion plan to tackle a financial crisis, from 16.4 percent on Wednesday and 16.48 percent a week ago <VNBMKFIXINGS02>.

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