Vietnam’s Circular 17: Guidelines for the process for issuance limit confirmation of international bonds

According to Circular No. 17/2013/TT-NHNN of the State Bank of Vietnam, the process for issuance limit confirmation, appraisal of issuance plan, register for issuance of international bonds for each entity (state commercial bank, state enterprises not being state commercial banks, other enterprises) is specified as follows:

First: For state commercial banks:

- After preparing and approving plan on issuance of international bonds meeting provision in Article 24 of Decree No. 90/2011/ND-CP dated October 14, 2011 of Vietnam’s Government on issuance of corporate bonds, state commercial banks shall send a dossier requesting for the limit confirmation of international bond issuance) as prescribed at Chapter III of this Circular to the state bank (the foreign exchange management department);

- After being confirmed the issuance limit, the state commercial banks shall send the state bank (Banking Inspection and Supervisory Agency) a dossier requesting for appraisal of plan on international bond issuance as prescribed at Chapter II of this Circular;

- After being approved by the Prime Minister for a plan on international bond issuance, state commercial banks shall send a dossier requesting for issuance registration confirmation as prescribed at Chapter IV of this Circular to the state bank (foreign exchange management department).

Second: For state enterprises not being state commercial banks:

- After preparing and approving plan on issuance of international bonds meeting provision in Article 24 of Decree No. 90/2011/ND-CP, enterprises shall send a dossier requesting for the limit confirmation of international bond issuance) as prescribed at Chapter III of this Circular to the state bank (the foreign exchange management department);

- After being approved by the Prime Minister for plan on international bond issuance, state enterprises shall send a dossier requesting for issuance registration confirmation as prescribed at Chapter IV of this Circular to the state bank (foreign exchange management department).

Third: For other enterprises:

- After preparing and approving plan on issuance of international bonds meeting provision in Article 24 of Decree No. 90/2011/ND-CP, enterprises shall send a dossier requesting for the limit confirmation of international bond issuance as prescribed at Chapter III of this Circular to the state bank (the foreign exchange management department);

- Enterprises shall send a dossier requesting for issuance registration confirmation as prescribed at Chapter IV of this Circular to the state bank (foreign exchange management department).

View other provisions at Circular No. 17/2013/TT-NHNN of the State Bank of Vietnam, effective from September 01, 2013.

Thu Ba

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