What is the application for listing of bonds in Vietnam? What is the application form for listing of bonds?
What are bonds?
Pursuant to Clause 2, Article 13 of the 2019 Law on Securities, Clauses 6, 7, 8, 9 Article 3 of Decree 155/2020/ND-CP defining the types of bonds as follows:
- “bonds” are a kind of securities that have a duration of at least 01 year and are issued by enterprises to certify lawful rights and interests of their holders to part of the issuers.
The face value of a publicly offered bond shall be a multiple of 100 thousands VND.
- “convertible bonds” are bonds that are issued by a joint stock company and can be converted into common shares of the same company under the terms and conditions specified in the bond issuance plan.
- “secured bonds" are bonds whose principal or interest payment is wholly or partially secured by assets of the issuer or a third party in accordance with regulations of law on secured transactions; or have payment guarantee as prescribed by law.
- “warrant-linked bonds” are bonds that are issued together with warrants by a joint stock company and allow the warrant holders to purchase a number of common shares of the issuer under the terms and conditions specified in the bond issuance plan.
What is the application for listing of bonds in Vietnam? What is the application form for listing of bonds?
What is the application form for listing of bonds in Vietnam?
The application form for listing of bonds in Vietnam is specified in Form No. 28 of the Appendix issued together with Decree 155/2020/ND-CP:
Download the application form for listing of bonds in Vietnam: here.
What is the application for listing of bonds in Vietnam?
According to the provisions of Clause 2, Article 118 of Decree 155/2020/ND-CP as follows:
Listing of corporate bonds
...
2. The application for listing of bonds in Vietnam shall include:
a) The application form No. 28 in the Appendix hereof;
b) The bond holder register of the applying organization which is prepared within 01 month before the application is submitted;
c) The commitment to fulfill the applying organization’s obligations to the investors including in terms of redemption, ratio of debt to equity, conditions for conversion (except convertible bonds) and other conditions;
d) The bond listing advisory contract with a securities company, unless the issuer is a securities company;
dd) The certificate issued by Vietnam Securities Depository and Clearing Corporation that the bonds of the applying organization have been collectively registered.
Thus, the application for listing of bonds shall include:
- The application form;
- The bond holder register of the applying organization which is prepared within 01 month before the application is submitted;
- The commitment to fulfill the applying organization’s obligations to the investors including in terms of redemption, ratio of debt to equity, conditions for conversion (except convertible bonds) and other conditions;
- The bond listing advisory contract with a securities company, unless the issuer is a securities company;
- The certificate issued by Vietnam Securities Depository and Clearing Corporation that the bonds of the applying organization have been collectively registered.
What are the procedures for listing bonds in Vietnam?
According to the provisions of Clause 3, Article 118 of Decree 155/2020/ND-CP as follows:
Listing of corporate bonds
...
3. Procedures for listing bonds in Vietnam
a) Within 30 working days from the receipt of the satisfactory application, the Stock Exchange shall issue a decision to approve the listing;
b) Within 90 days from the day on which listing is approved, the applying organization shall put its bonds into trading.
Thus, within 30 working days from the receipt of the satisfactory application, the Stock Exchange shall issue a decision to approve the listing;
- Within 90 days from the day on which listing is approved, the applying organization shall put its bonds into trading.
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