What documents are required for bond issuing dossiers in Vietnam?
Through my research, I have learned that bonds can be issued, but the maximum duration should not exceed 12 months from the date of the first issuance of the initial bond offering. What documents are required for bond issuing dossiers in Vietnam?
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What documents are required for bond issuing dossiers in Vietnam? - image from internet
Pursuant to Article 13 of the Decree 163/2018/ND-CP on issuance of corporate bonds, which takes effect from 01/02/2019, stipulating documents required for bond issuing dossiers in Vietnam:
1. These dossiers shall be prepared by issuing enterprises, including:
a) Bond issuance plan is prescribed in Clause 1, Article 14 of this Decree;
b) Information sheet about bond issuance according to Appendix I hereto;
c) Agreements between issuing enterprises and organizations providing services related to bond issuances (if any);
d) Financial statement that is made in the year preceding the issuance year and audited;
dd) Credit ratings released by credit rating organizations with respect to issuing enterprises and bond type 9if any).
2. In addition to those referred to in clause 1 of this Article, dossiers submitted to apply for multiple issuances of bonds must include:
a) Projects or plans for use of borrowed funds in multiple stages;
b) Latest updates on financial conditions of issuing enterprises, use of funds derived from the previous bond issuance if the two issuances are at least 06 months apart.
3. The financial statement of the year preceding the year of issue of corporate bonds, which is prescribed in point d of clause 1 of this Article, must be audited by auditing bodies meeting requirements specified in clause 7 of Article 4 hereof; The audited financial statement must be the unqualified or qualified audit report. In case qualified audit opinions are given, the enterprise must give explanations about qualified elements and their effects on the ability to pay bond principals and interest of enterprises.
a) In case where an enterprise issues bonds within 90 days from the end of the fiscal year without the audited financial statement of the year preceding the issuing year, or the consolidated financial statement which is audited in the year preceding the issuing year, the enterprise must use the semi-annual financial statement or the 9-month financial statement of the preceding fiscal year audited by the State Auditor or an auditing company meeting requirements according to the provisions of Clause 7, Article 4 of this Decree. No later than 20 days of receipt of the results of auditing of the annual financial statements, the issuing enterprise must disclose information to bondholders;
b) In cases where an issuing enterprise is a parent company, its audited financial statement must include the audited consolidated financial statement of the year preceding the issuing year and the audited financial statement of the parent company in the year preceding the issuing year.
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