BIDV raises $4.3T VND in bonds, one of Vietnam's largest post-IPO debt raises

What's the deal? BIDV, the Bank for Investment and Development of Vietnam, is raising 4,333.6 billion VND through a public bond offering of 43.33 million units. It is the bank's third large-scale public issuance and the final one under a registration certificate the State Securities CommissionDealroom has a profile for this one. Try Dealroom → granted in late 2025.

The details: The offering splits across three codes with 7-, 8-, and 10-year terms. The largest, worth 1,680.2 billion VND, runs 10 years with a margin of 2.25% over a reference rate; the others carry margins of 2.25% and 2.30%. Rates reset every six months, and subscriptions close at 9:00 ICT on September 9, 2026, with a 10 million VND minimum.

Why now? BIDV is pairing new capital with debt restructuring. Alongside the public offering, it has issued smaller private placements, including a 315 billion VND tranche and a 100 billion VND tranche in August, both on 6-year terms at 8.2% floating rates.

What's the endgame? The bank is settling older bonds early to manage capital costs and stay within financial-safety ratios. In late August, it repurchased a 100 billion VND issue and a separate 400 billion VND issue, both raised in August 2024 on 7-year terms.

The signal: As one of Vietnam's largest state-owned commercial banks, BIDV's consecutive early repayments point to ample liquidity and active cash-flow management. The raise ranks among the biggest post-IPO debt deals on record in Vietnamese fintech, underscoring how the country's major lenders are tapping bond markets to optimise their capital structures.

Read more: vietnam.vn

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