HCMC to issue bonds next Monday The Saigon Times Daily HCMC – The HCMC government intends to issue VND2 trillion of municipal bonds next Monday to raise capital for its urgent and key infrastructure projects, the news website Zing.vn reports. In a document sent to the Finance Ministry, the municipal government says it will issue debt next Monday, and receive money from buyers on the following day. These bonds will have tenors of 10, 15, 20 and 30 years. Investors’ needs and market conditions are taken into account to decide on the size of each type of debt. Upon the first debt issuance, extra bonds may be issued later to ensure sufficient capital from bond sales, and help increase the liquidity of the secondary market. The municipal government urges the Finance Ministry to come up with a bond coupon range prior to the issuance date. The local government issued VND9 trillion of bonds between 2014 and 2016. The bond term of 15 years last year carried a coupon of 7.55% per annum. The city is in dire need of investment capital for a slew of big-ticket infrastructure projects such as Metro Line No. 1 linking Ben Thanh Market in District 1 and Suoi Tien Park in District 9. If slow disbursement continues, this project would be at risk of suspension or fall behind schedule.