How long is the time limit for enterprises to disclose information when redeeming issued bonds before maturity in Vietnam?
- How long is the time limit for enterprises to disclose information when redeeming issued bonds before maturity in Vietnam?
- What is the form of information disclosure for bond issuers conducting redemption of bonds before maturity in Vietnam?
- In what methods can enterprises disclose information about redemption of bonds before maturity in Vietnam?
- What are the rules for disclosure of information on redemption of bonds before maturity in Vietnam?
How long is the time limit for enterprises to disclose information when redeeming issued bonds before maturity in Vietnam?
Pursuant to Clause 2, Article 23 of Decree No. 153/2020/ND-CP stipulating as follows:
Disclosure of information on convertible bonds, warrant-linked bonds, redemption of bonds before maturity and bond swap
...
2. With regard to redemption of bonds before maturity and bond swap:
a) At least 10 days before the date of redemption of bonds before maturity or bond swap, the issuer shall disclose the following information on such redemption or bond swap to bondholders, including: method of redemption or bond swap; terms and conditions of redemption or bond swap; quantity of bonds to be redeemed or swapped according to the plan approved by a competent authority.
b) Within 10 days from the completion of the redemption of bonds before maturity or bond swap, the issuer shall report it to the authority approving/accepting the bond issuance plan and send the disclosed information to the Stock Exchange.
Thus, when redeeming issued bonds, enterprises shall disclose information according to the following regulations:
- At least 10 days before the date of redemption of bonds before maturity or bond swap, the issuer shall disclose the following information on such redemption or bond swap to bondholders, including: method of redemption or bond swap; terms and conditions of redemption or bond swap; quantity of bonds to be redeemed or swapped according to the plan approved by a competent authority.
- Within 10 days from the completion of the redemption of bonds before maturity or bond swap, the issuer shall report it to the authority approving/accepting the bond issuance plan and send the disclosed information to the Stock Exchange.
How long is the time limit for enterprises to disclose information when redeeming issued bonds before maturity in Vietnam?
What is the form of information disclosure for bond issuers conducting redemption of bonds before maturity in Vietnam?
The form of information disclosure for bond issuers conducting redemption of bonds before maturity is specified in Appendix IV issued together with Circular No. 122/2020/TT-BTC as follows:
Download the form of information disclosure: Click here.
In what methods can enterprises disclose information about redemption of bonds before maturity in Vietnam?
Pursuant to Clause 3, Article 5 of Circular No. 122/2020/TT-BTC stipulating as follows:
Disclosure of information on convertible bonds, warrant-linked bonds, redemption of bonds before maturity and bond swap
...
3. Methods of information disclosure:
a) Information disclosed before the redemption of bonds before maturity or before the bond swap shall be disclosed according to the methods prescribed in Clause 1 Article 6 hereof.
b) Information on conversion of bonds into shares, exercise of warrants, results of redemption of bonds before maturity and bond swap results shall be disclosed according to the methods prescribed in Article 6 hereof.
Thus, the methods of information disclosure on redemption of bonds before maturity are as follows:
- Issuers shall disclose information for investors in the following methods:
+ Paper documents;
+ Electronic documents;
+ Information posted on websites of issuers;
+ Information posted on corporate bond information webpage of Hanoi Stock Exchange as prescribed in Article 32 of Decree No. 153/2020/ND-CP.
- Issuers shall send information to be disclosed to Hanoi Stock Exchange by using electronic documents through its corporate bond information webpage.
What are the rules for disclosure of information on redemption of bonds before maturity in Vietnam?
Pursuant to Article 18 of Decree No. 153/2020/ND-CP on the rules for disclosure of information on redemption of bonds before maturity for bond issuers as follows:
Information disclosure rules
1. The issuer shall disclose information to investors in an adequate and timely manner. Information to be disclosed must be clear according to regulations herein and guidelines given by the Ministry of Finance. The issuer shall be legally responsible for the information disclosed as well as its accuracy and truthfulness.
2. The information disclosed before offering shall not include any advertising information and shall not disclosed by means of mass media, unless information is disclosed in accordance with regulations on disclosure of information on securities market.
3. The issuer that is a public company shall disclose information in accordance with regulations herein and regulations on disclosure of information on securities market.
Thus, when disclosing information about redemption of bonds before maturity, enterprises must ensure to follow the following rules:
- The issuer shall disclose information to investors in an adequate and timely manner. Information to be disclosed must be clear according to regulations herein and guidelines given by the Ministry of Finance. The issuer shall be legally responsible for the information disclosed as well as its accuracy and truthfulness.
- The information disclosed before offering shall not include any advertising information and shall not disclosed by means of mass media, unless information is disclosed in accordance with regulations on disclosure of information on securities market.
- The issuer that is a public company shall disclose information in accordance with regulations herein and regulations on disclosure of information on securities market.
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