New Regulations on Information Disclosure of Bond Issuing Enterprises

01/09/2020, 04:00 AM

Bond issuers must disclose information prior to the bond issue, information on bond issuance results, periodical and extraordinary information.

The Ministry of Finance has just issued Circular No. 77/2020 / TT-BTC guiding a number of contents of Decree 81 of the Government amending and supplementing Decree 163 on the issuance of corporate bonds.

Accordingly, businesses issuing bonds must practice the information disclosure regime before issuing bonds. Specifically, enterprises issuing bonds in the domestic market disclose information prior to the issuance for investors who register to buy bonds and send information disclosure content to the Hanoi Stock Exchange in accordance with Decree 81. The information disclosure before the bond issue must be signed and sealed by the legal representative of the enterprise or the authorized person authorized to disclose information of the enterprise.

Enterprises issuing bonds to the international market shall send information disclosed contents to the Hanoi Stock Exchange in accordance with the provisions of Decree 163/2018 / ND-CP.

For information disclosure on bond issuance results, domestic bond issuers shall disclose information on bond issuance results in accordance with Article 23 of Decree No. 163/2018 / ND-CP. Enterprises issuing bonds to the international market disclose information on bond issuance results according to the provisions of Article 28 of Decree 163.

For periodic information disclosure, bond issuers at domestic schools shall periodically disclose information according to fiscal year. Specifically, within 60 days from the end of the first 6 months of the fiscal year, the enterprise must disclose information every 6 months. Within 90 days from the end of the fiscal year, the enterprise shall periodically disclose information.

In case of extraordinary information disclosure, bond issuers in the domestic market shall disclose extraordinary information in accordance with Article 25 of Decree 163.

In addition to the above provisions, Circular No. 77/2020 also details the disclosure of information on corporate bonds; report of bond issuance consultancy; periodic reports of the Stock Exchange etc,…

This Circular takes effect from September 28, 2020.

Source: Bao Chinh Phu

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