Headlines 10/01/2020 16:35 CH

Regulations on credit institution’s public bond offerings are about to take effect

Lê Trang

This is the highlight of the Circular No. 33/2019/TT-NHNN amending the Circular No. 34/2013/TT-NHNN on the domestic issuance of promissory notes, treasury bills, certificates of deposit or bonds by credit institutions and foreign bank branches.

The Circular prescribes that plans for public offerings of bonds must be subject to credit institution’s approval decisions issued under the Law on Securities, and the State Bank’s consent.

Each plan for public offering of bonds which is approved by a competent regulatory authority must include at least the following information:

- Total value of bonds in each public offering session;

- Name, term and interest rate of a bond, persons or entities eligible for purchasing bonds;

- Bond issuance address, issuance forms and approaches;

- In case of offering of convertible bonds or warrant-linked bonds, the plan for issuance of these bonds must delineate the information specified in clause 1 of Article 24 in the Circular No. 34/2013/TT-NHNN (already amended or supplemented).

For more details, please see the Circular No.33/2019/TT-NHNN in effect on February 19, 2020.

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