Vietnam: Procedures for offering of bonds in international market

According to Article 26 of the Decree No. 153/2020/NĐ-CP of the Vietnam’s Government, procedures for offering of bonds in international market are specified as following:

- With regard to the offering of bonds in the international market by a company other than a public company:

+ The issuer shall prepare a bond offering dossier as prescribed in Article 27 hereof and organize the offering in the issuing market.

+ The issuer shall disclose information according to Articles 29, 30 and 31 hereof and regulations adopted in the issuing market.

- With regard to the offering of bonds in the international market by a public company, securities company or fund management company:

+ The issuer shall prepare a bond offering dossier as prescribed in Article 27 hereof and send it to the State Securities Commission (SSC) of Vietnam. Within 10 days from the receipt of adequate and valid dossier, SSC shall give its written approval. If a dossier is refused, SSC shall give a written response in which reasons for such refusal must be specified.

+ After obtaining the approval from SSC, the issuer shall disclose information before offering according to Article 29 hereof and organize the offering according to regulations adopted in the issuing market.

+ Within 10 days from the completion date of the bond offering, the issuer shall submit a report on offering results, made according to the form in Appendix IV enclosed herewith, to SSC.

The issuer shall make bond principal and interest payments, and disclose information according to regulations adopted in the issuing market and Section 2 Chapter III hereof.

More details at the Decree No. 153/2020/NĐ-CP of the Vietnam’s Government, effective from January 01, 2021.

Le Thanh

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