Regulations on corporate bond issuance đá bóng trực tiếp Vietnam

Hello, The Editorial Board would like to provide some information as follows:

1. What type đá bóng trực tiếp business can issue bonds?

According to the provisions đá bóng trực tiếp Clause 1, Article 2 đá bóng trực tiếpNghị định 153/2020/NĐ-CP: "Issuers that are joint-stock companies or limited liability companies duly established and operating under the law đá bóng trực tiếp Vietnam."

Thus, only joint stock companies and limited liability companies established and operating under Vietnamese law can issue bonds.

2. How do enterprises issue bonds?

Regarding the face value đá bóng trực tiếp a bond

đá bóng trực tiếp Clause 4, Article 1 ofNghị định 65/2022/NĐ-CP, the par value đá bóng trực tiếp bonds is specified as follows:

+ Face value of a bond offered đá bóng trực tiếp the domestic market is VND 100.000.000 (one hundred million) or a multiple of VND 100.000.000 (one hundred million);

+ Bonds offered for sale đá bóng trực tiếp the international market, par value comply with regulations đá bóng trực tiếp the issuing market.

Regarding the subjects eligible to buy corporate bonds

Clause 1, Article 8 đá bóng trực tiếp Decree 153/2020/ND-CP, the subjects eligible to buy corporate bonds include:

+ For non-convertible bonds without warrants: Buyers without warrant are professional investors as defined đá bóng trực tiếp the Law on securities.

+ For convertible bonds and warrant-linked bonds: Buyers are professional investors and less than 100 strategic investors.

Clause 1, Article 11 đá bóng trực tiếp Vietnam'sLuật trực tiếp bóng đástipulates that professional investors are investors that have adequate financial capacity or securities qualifications, including:

- Commercial banks, foreign branch banks (FBB), finance companies, insurers, securities companies, fund management companies, securities investment funds, international financial institutions, off-budget financial funds, state-owned financial institutions permitted to buy securities as prescribed by relevant laws;

- Any company whose contributed charter capital exceeds 100 billion VND; every listed or registered organization;

- Holders đá bóng trực tiếp securities professional certifications;

- Any individual holding a quantity đá bóng trực tiếp listed or registered securities that is worth at least 02 billion VND as confirmed by the securities company;

- Any individual whose taxable income đá bóng trực tiếp the latest year is at least 01 billion according to his/her submitted tax return or tax deduction documents of his/her income payer.

At the same time, đá bóng trực tiếp Clause 17, Article 4 of the Securities Law 2019 also stipulates that strategic investors are the investors selected the General Meeting of Shareholders according to their financial capacity, technological capacity and commitment to cooperate with the building work for at least 03 years.

Thus, according to the above provisions, the law only allows professional securities investors to buy privately issued corporate bonds. If investors are not professional investors, they are not allowed to buy this type đá bóng trực tiếp bond.

3. Responsibilities of enterprises đá bóng trực tiếp private bond issuance?

Pursuant to Clause 5, Article 1 of Decree 65/2022/ND-CP, cases đá bóng trực tiếp which bonds are redeemed before maturity include:

- The redemption is made under an agreement between the issuer and bondholder.

- Bonds shall be compulsorily redeemed at the request of investors đá bóng trực tiếp the following cases:

+ The issuer commits violations against regulations đá bóng trực tiếp law on offering and trading đá bóng trực tiếp corporate bonds according to decision issued by a competent authority, and such violations cannot be rectified or a number đá bóng trực tiếp bondholders that represents at least 65% đá bóng trực tiếp total outstanding bonds đá bóng trực tiếp the same type refuses to give approval for remedial measures for such violations.

+ The issuer fails to comply with the bond issuance plan, and that violation cannot be rectified or a number đá bóng trực tiếp bondholders that represents at least 65% đá bóng trực tiếp total outstanding bonds đá bóng trực tiếp the same type refuses to give approval for remedial measures for that violation.

+ Other cases defined đá bóng trực tiếp the bond issuance plan which is prepared according to Article 13 of Decree 65 (if any).

đá bóng trực tiếp addition, before and after issuing bonds, enterprises must disclose information on solvency, audit reports on financial situation and audit capital use for the purpose of public issuance. Father.

Best regards!

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