Australia, Capital Markets, Corporate Finance and M&A, Korea, Philippines, Vietnam - Tuesday, July 15, 2008 11:14 - 0 Comments

IFR deal profiles: ANZ, Kexim, the Philippines, Vietnam

The following profiles appeared in IFR Asia’s Debt Capital Markets report, July 2008

VIETNAM

 There was a time when Vietnam was something of a darling of the global credit markets. No more: worries about the state of its economy have sent investors elsewhere.

In the debt markets, the starkest confirmation of this change in attitude came in June when the sovereign, the Socialist Republic of Vietnam, officially ended plans for a G3 currency issue this year. Last year Barclays Capital, Citi and Deutsche Bank were mandated on a US$750 million global bond, but it had been clear for months that the deal was not going to make it across the line. Vietnam’s finance ministry has indicated that the deal will come back at some stage. But both because of the state of the global credit markets, and Vietnam’s own problems, nobody is expecting that to be any time soon. Continue…

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