Vietnam: Disclosure of information before the enterprise's bond issuance

According to Decree No. 163/2018/NĐ-CP of Vietnam’s Government, at least 10 working days before the expected date of issuance of the bond issuance, the issuing enterprise shall disclose information before the issuance to investors in order for them to register purchase of bonds and shall send details about information to be disclosed to the Stock Exchange. To be specific:

- Information sheet about pre-issuance disclosure;

- Particularly for issuance of green bonds, in addition to the information disclosure as stipulated, the issuing enterprise must disclose information on the management process, disbursement of capital from the issuance of green bonds;

- Issuing enterprises shall send information to be disclosed before the issuance to investors registering to buy bonds and the Stock Exchange in the form of paper documents or electronic records.

Concurrently, Decree No. 163/2018/NĐ-CP also stipulates that as for enterprises issuing bonds multiple times:

- For the initial issuance, the pre-issuance disclosure of information shall be subject to the above-mentioned regulations;

- As for the following issuance, at least 10 working days before each issuance, the issuing enterprise must provide supplementary documents in multiple issuances and send them to the investor registering to buy bonds as well as the Stock Exchange.

- The Stock Exchange shall receive information to be disclosed prior to issuance for synthesis of information about current conditions of issuance of corporate bonds.

View more details at Decree No. 163/2018/NĐ-CP of Vietnam’s Government, effective from February 01, 2019.

-Thao Uyen-

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