Guidance on Information Disclosure, Reporting on Corporate Bonds

21/07/2020, 04:29 AM

The Ministry of Finance is drafting a circular guiding the implementation of Decree 81/2020 of the Government amending and supplementing a number of articles of Decree 163/2018 on corporate bond issuance.

The draft provides for disclosure of information by bond issuers. Accordingly, for information disclosure before the issuance of bonds:

  • Bond issuers in the domestic market shall disclose information prior to the issuance to investors registering to buy bonds and send the information disclosure to the Stock Exchange. In particular, the legal representative of the enterprise is responsible for signing the fixed copy of the information before the issuance.

Bond issuers in the international market send information disclosure to the Stock Exchange.

Disclosure of information about bond issuance results

In addition to disclosing information about the results of bond issuance in the domestic market under the provisions of Decree 163/2018, the issuing enterprise shall send to the Stock Exchange the contents of information disclosure on the result of the bond issue. issue bonds according to the form (in Appendix 1 to this Circular).

The disclosure of information on bond issuance results in international markets complies with Decree 163/2018.

Periodic information disclosure: The issuing enterprise publishes information periodically according to the financial year of the enterprise, with the following time limit: Information disclosure is made every 06 months before August 15 every year; publish the information periodically before March 31 of the following year.

Report mode:

Bond issuance advisory organizations shall observe the regime of biannual and monthly reporting on the financial year on the provision of services on corporate bonds under the provisions of Decree 81/2020, including the following contents:

  • Number of consulting contracts issuing corporate bonds in the period, form of issue;
  • Volume of consultancy consultancy registration and consultancy volume of successful issuance in the period ...

Advisory organizations are securities companies shall send written reports to the State Securities Commission;

Consulting organizations are other organizations that send written reports to the Ministry of Finance (via the Department of Finance of Banks and Financial Institutions).

Deadline for submission of reports: Before July 31 every year for 6-month reporting periods and before January 31 of the subsequent year for annual reporting periods.

Source: Bao Chinh Phu