The adjustment of the Certificate of Private Corporate Bond Registration shall be carried out under which circumstances?
What are the principles for registering corporate bonds in 2023?
In Article 4 of the Regulations on registration, depository, and settlement of privately placed corporate bonds issued under Decision 44/QD-VSD in 2023, the principles for registering privately placed corporate bonds are stipulated.
Principles of registering privately placed corporate bonds
1. Issuers of privately placed corporate bonds must register the bonds with VSDC within the time limit prescribed in Clause 12, Article 1 of Decree No. 65/2022/ND-CP dated September 16, 2022, of the Government of Vietnam, amending and supplementing certain articles of Decree No. 153/2020/ND-CP (hereinafter referred to as Decree No. 65/2022/ND-CP).
2. Privately placed corporate bonds registered with VSDC must have face values as regulated by law.
3. Issuers may directly register bonds with VSDC or through a securities company.
The 3 principles for registering privately placed corporate bonds in 2023 include:
- Issuers of privately placed corporate bonds must register the bonds with VSDC within the time limit prescribed in Clause 12, Article 1 of Decree 65/2022/ND-CP.
- Privately placed corporate bonds registered with the Vietnam Securities Depository and Clearing Corporation must have face values as regulated by law.
- Issuers may directly register bonds with the Vietnam Securities Depository and Clearing Corporation, or through a securities company.
Which cases are eligible for adjusting the Certificate of Registration for privately placed corporate bonds?
In Article 9 of the Regulations on registration, depository, and settlement of privately placed corporate bonds issued under Decision 44/QD-VSD in 2023, the cases eligible for adjusting the Certificate of Registration for privately placed corporate bonds are stipulated.
Adjustment of the Certificate of Registration for privately placed corporate bonds
VSDC adjusts the Certificate of Registration for privately placed corporate bonds in the following cases:
1. The issuer registers additional bonds;
2. The issuer reduces the number of registered bonds;
3. The issuer changes the terms and conditions of the bonds (changes to the nominal interest rate of the bonds, extends the bond term, changes the method of principal and interest payment of the bonds);
4. The issuer changes its name.
The 4 cases eligible for adjusting the Certificate of Registration for privately placed corporate bonds include:
(1) The issuer registers additional bonds;
(2) The issuer reduces the number of registered bonds;
(3) The issuer changes the terms and conditions of the bonds (changes to the nominal interest rate of the bonds, extends the bond term, changes the method of principal and interest payment of the bonds);
(4) The issuer changes its name.
How many days is the processing time for adjusting the Certificate of Registration for privately placed corporate bonds?
In Article 11 of the Regulations on registration, depository, and settlement of privately placed corporate bonds issued under Decision 44/QD-VSD in 2023, the processing time for adjusting the Certificate of Registration for privately placed corporate bonds is specified as follows:
Processing the dossier for adjustment of the Certificate of Registration for privately placed corporate bonds
1. Processing time
1.1. For cases specified in Clauses 1 and 2, Article 10 of these Regulations, the processing time for VSDC to review and handle the dossier for adjusting the Certificate of Registration for bonds is within 5 working days from the next day after VSDC receives the issuer's dossier. The day VSDC receives the issuer's dossier is specifically defined in Clause 7, Article 3 of these Regulations.
1.2. For cases specified in Clauses 3 and 4, Article 10 of these Regulations, the processing time for VSDC to review and handle the dossier for adjusting the Certificate of Registration for bonds is within 2 working days from the next day after VSDC receives the issuer's dossier. The day VSDC receives the issuer's dossier is specifically defined in Clause 7, Article 3 of these Regulations.
2. In cases where the dossier is complete and valid, VSDC will issue the adjusted Certificate of Registration for bonds (Form 05A, 05B, 05C, 05D/DK-TPRL) to the issuer and send a notification letter regarding the adjustment (Form 06A, 06B, 06C, 06D/DK-TPRL) to the issuer, the Hanoi Stock Exchange, and the depository members involved.
3. In cases where the dossier is incomplete or invalid, VSDC will send a written notice to the issuer, requesting additional information, a clarification, or specifying the reason for not processing the adjustment of the Certificate of Registration for bonds.
Therefore, the processing time for adjusting the Certificate of Registration for privately placed corporate bonds is:
- 5 working days from the next day after VSDC receives the issuer's dossier for the following cases:
+ Adjustment due to the registration of additional privately placed corporate bonds
+ Reduction in the number of registered bonds
- 2 working days from the next day after VSDC receives the issuer's dossier for the following cases:
+ Change in terms and conditions (change in the nominal interest rate of the bonds, extension of the bond term, change in the method of interest and principal payment) of the bonds.
+ Issuer changes its name.
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