Vietnam raises $89.4mn via government bonds on Jan 12

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Vietnam's State Treasury raised VND1.88 trillion ($89.4 million) by selling government bonds in its first auction of the year, the Hanoi Stock Exchange said.

The treasury sold the entire amount of VND1 trillion of three-year debt it offered at a yield of 12.10 percent, and raised VND880 billion via five-year debt at 12.15 percent, the exchange said in a statement seen by Reuters on Friday. The auction was on Thursday.

"This is a good sign of improved liquidity at major lenders, while cash demand in the short term is easing, which may create room for imminent rate cuts," said Quach Manh Hao, deputy director of Thang Long Securities.

At its last auction, on Dec. 28, the treasury raised VND900 billion through the sale of three-year government bonds at a yield of 12.10 percent.

Vietnam expects to raise about VND25 trillion ($1.19 billion) from selling government debt in the first quarter of this year, the exchange said in another statement.

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