Vietnam: Guidance on formulation of the bond swap plan

Kim Linh

09:36, 24/12/2015

This is the content specified in Circular No. 100/2015/TT-BTC of the Ministry of Finance of Vietnam providing guidance on the issuance of municipal bonds in the domestic market.

According to Circular No. 100/2015/TT-BTC of the Ministry of Finance of Vietnam, a bond swap plan includes the following contents:

- The purposes of bond swap;

- Terms and provisions of bond to be sold out (the bond code, quantity of bonds sold, issue date, maturity date, coupon rate, and method of payment of bond interest);

- Terms and provisions of bond to be purchased:

+ Terms and provisions of bond additionally issued include: issue date, maturity date, coupon rate, and method of payment of bond interest.

+ Terms and provisions of bond issued for the first time include: intended issue date; intended term; principle for determining coupon rate; method of payment of bond interest.

- Planned time of bond swap;

- The limit on raised funds and estimated outstanding debts of the provincial-government budget before and after the bond swap.

After the bond swap plan prescribed in Clause 1 of this Article is approved by a competent authority, the Provincial-level People’s Committee shall send it to the Ministry of Finance for giving comments on the following contents:

- The quantity of bonds swapped;

- The limit on raised funds and estimated outstanding debts of the provincial-government budget before and after the bond swap;

- Terms and provisions of the sold bond and those of purchased bond.

More details can be found in Circular No. 100/2015/TT-BTC of the Ministry of Finance of Vietnam, which takes effect from August 01, 2015.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

4 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn