Vietnam to auction VND2 trln bonds

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Vietnam's State Treasury will sell five-year government bonds worth VND2 trillion (US$106 million) on Friday, and two other lots worth VND3 trillion in early June, the Hanoi Stock Exchange said on Tuesday.

The Treasury will issue Friday's bonds on June 1, sell another VND2 trillion on June 4 and auction the rest on June 11, the exchange said in a statement late on Tuesday.

Proceeds from such debt often go towards major infrastructure projects, such as roads and bridges, irrigation systems and schools.

In an auction on March 18, the State Treasury sold a combined VND600 billion of two-year and three-year bonds out of an offer of VND1 trillion.

The government plans to raise VND66 trillion in bond sales this year, up 22 percent from the estimated proceeds raised in 2009.

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