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Dollar bonds of Vietnamese real estate company BIM Land rallied with its 7.375% 2026s up 3 points to 66.2 cents on the dollar. This comes after the International Finance Corporation (IFC), a member of the World Bank is planning to invest up to $150mn in the sustainability-linked bonds (SLBs) of BIM Land Joint Stock Company (BIM Land) and Thanh Xuan Joint Stock Company. BIM Land is rated B by Fitch and its outlook was revised to negative earlier this year due to weakening cash collection from property sales and negative free cash flows leading to possible liquidity pressures.
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