What are regulations on organizing issuance of international bonds in Vietnam?

What are regulations on organizing issuance of international bonds in Vietnam?

Pursuant to Article 33 of the Decree 95/2018/NĐ-CP stipulating regulations on organizing issuance of international bonds in Vietnam as follows:

1. The Ministry of Finance shall take charge and cooperate with relevant ministries, authorities and organizations to issue bonds according to the Government's policy and the Prime Minister’s decision made on each bond issue.

2. Based on the reality and pursuant to relevant laws, the Ministry of Finance organizes the issuance of international bonds according to the following steps:

a) Select organizations or syndicates that are experienced international financial organizations or investment banks to manage the bond issue;

b) Select experienced domestic and foreign legal advisors to provide legal advice for the Ministry of Finance and the organization(s) or syndicate(s) in charge of managing the bond issue;

c) Prepare bond issuance documentation: The Ministry of Finance shall take charge and cooperate with domestic and foreign legal advisors and relevant agencies to prepare the bond issuance documentation in accordance with the law of Vietnam, international laws and international practices applicable at the issuing market;

d) Sovereign credit rating: The Ministry of Finance shall take charge and cooperate with relevant ministries and authorities in contacting the credit rating agency to certify the sovereign credit rating and credit rating for bonds to be issued;

dd) Promotion: The promotion of international bonds is made to meet requirements of each issuance method. The Ministry of Finance shall cooperate with the organization or syndicate in charge of managing the bond issuance to organize promotion programs so as to bring information concerning international bonds to international investors before the official announcement of the issuance of international bonds;

e) Issuance of international bonds: The Ministry of Finance shall decide terms and conditions of international bonds by consulting the organization or syndicate in charge of managing the bond issuance in conformity with market situation and principles specified in the scheme for issuance of international bonds approved by the Government or the Prime Minister. The Ministry of Finance shall decide the interest rate on international bonds of each issue according to the interest rate bracket announced by the Prime Minister under regulations in Point b Clause 2 Article 31 herein.

g) Receiving funds: The Ministry of Finance shall receive funds from issued international bonds according to the signed agreements;

h) Completion of bond issue: Upon the receipt of payments for international bonds, the Ministry of Finance shall complete the bond issue and enter into legal documents to validate transactions in accordance with laws applicable at the issuing market; report the bond issue results to the Prime Minister.

What are regulations on registration, depositing and listing of international bonds in Vietnam?

Pursuant to Article 34 of the Decree 95/2018/NĐ-CP stipulating regulations on registration, depositing and listing of international bonds in Vietnam as follows:

1. The Ministry of Finance shall select qualified organizations to provide international bond registration and depositing services.

2. International bonds shall be listed according to the Prime Minister’s decision.

What are regulations on updating international bonds information in Vietnam?

Pursuant to Article 35 of the Decree 95/2018/NĐ-CP stipulating regulations on updating international bonds information in Vietnam as follows:

The Ministry of Finance shall monitor the trading of international bonds and cooperate with relevant entities to provide updated information concerning the Vietnam's economic developments for foreign investors in accordance with international practices after each bond issue.

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