Headlines 21/09/2022 16:18 CH

New regulations of Vietnam on cases of premature repurchase of privately placed corporate bonds

Dương Phạm

On September 16, 2022, the Government of Vietnam promulgated Decree No. 65/2022/ND-CP on amendments to Decree No. 153/2020/ND-CP on private placement and trading of privately placed corporate bonds in the domestic market and offering of corporate bonds in the international market.

According to Decree No. 65/2022/ND-CP, cases of premature repurchase of bonds include:

- Premature repurchase according to agreements between issuers and bondholders.

- Compulsory repurchase is applicable at the request of investors when:

+ Issuers violate laws on offering and trading of corporate bonds according to decisions of competent authorities and such violations are irreparable or the remedial measures are not approved bondholders representing at least 65% of the total bond of the same type currently on the market.

+ Issuers violate schemes for bond issuance, and such violations are irreparable, or the remedial measures are not approved by bondholders representing at least 65% of the total bond of the same type currently on the market.

+ Other cases specified in schemes for bond issuance prescribed in Article 13 of Decree No. 153/2020/ND-CP (if any).

Decree No. 65/2022/ND-CP comes into force as of September 16, 2022.

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Above are the summary and notification of new documents for customers of THU VIEN PHAP LUAT. For more information, please send an email to info@thuvienphapluat.vn.

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