In a bid to find a niche for itself in Vietnam’s competitive securities industry, Techcom Securities has, since 2013, homed in on developing the country’s corporate bond market – a feat that makes it Euromoney’s best securities house for fixed income this year.
Its success is noteworthy. Techcom claims to have had a 22% share of the corporate bond issuance advisory market last year. It maintained its momentum this year, too, holding an 18% share in the first half.
Some of its highlight deals include working on D7.2 trillion ($292 million) of zero-coupon bonds for Hung Yen Urban Investment and Development, D5 trillion of privately placed bonds for VinFast Trading and Production, a private D47.3 trillion non-convertible unsecured bond for parent Techcombank, and a D1.5 trillion deal for Masan Group.
Techcom has a vast proposition to boost investors’ confidence in Vietnam’s bond market, given a general preference of investors to park their money in time deposits, as opposed to bonds or equities.
For example, it offers bonds with bank payment guarantees to boost investor security on the product.