What is a Secured Bond?

According to the regulations on offering and trading privately placed corporate bonds in the domestic market, how is a secured bond understood?

Pursuant to Clause 4, Article 4 of Decree No. 153/2020/ND-CP, secured bonds are defined as follows:

"Secured bonds" are types of bonds for which the payment of interest and principal, in whole or in part, upon maturity is secured by the assets of the issuing enterprise or the assets of a third party in accordance with the provisions of the law on secured transactions; or payment is guaranteed in accordance with the provisions of the law.

Sincerely!

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