Vietnam highway builder fails to sell bonds again

HANOI, Aug 5 (Reuters) – State-run Vietnam Expressway Corporation failed to sell any of the 1 trillion dong ($ 56 million) in government-backed bonds it offered on Wednesday due to the low prices bidders put in.

It wanted to raise the funds to build a highway connecting Hanoi and Lao Cai province on the border with China.

At the previous auction on July 28, the company also failed to sell any of the 1 trillion dong of three-year and five-year bonds because bidders sought to buy the debt at yields above the ceiling rates.

In a separate statement, the exchange said state-run Vietnam Bank for Social Policies would auction government-guaranteed two-year bonds to raise 3 trillion dong on Aug. 11.

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