Conditions for PPP project enterprise to offer privately placed bonds in Vietnam's market

Duc Thao

11:28, 27/03/2021

Decree 28/2021/ND-CP issued on March 26, 2021, on financial management mechanism for Public - Private Partnership (PPP) Projects approved by the Government of Vietnam.

According to the Decree, procedures PPP project enterprise that offer privately placed bonds in the Vietnam's market shall satisfy the conditions specified in Clause 4 of Article 6 of this Decree and the following conditions:

Principal and interest of the issued corporate bonds are fully paid, or debts that are due over the last 03 years before the issuance of bonds (if any) are fully paid;
The plan for issuance of corporate bonds must be approved by a competent authority in accordance with regulations of Vietnam's law on offering and trading privately placed corporate bonds in the domestic market and conformable with the financial plan in the concluded PPP project contract;
The financial statement of the year preceding the issuance year is audited by an audit organization permitted to audit financial statements of public interest entities. In case the PPP project enterprise has been operating for less than 01 year, the financial statement of the previous year is not required as prescribed in Clause 3 Article 78 of Vietnam's PPP Law.

More details can be found in: Vietnam's Decree 28/2021/ND-CP takes effect from March 26, 2021.

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