New regulations on information disclosure of bond issuers
Bond issuers must disclose information before the bond issuance, information on bond issuance results, periodical, and extraordinary information...
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The Ministry of Finance has just issued Circular No. 77/2020 / TT-BTC guiding some contents of Decree No. 81/2020 / ND-CP of the Government amending and supplementing Decree 163/2018 / ND-CP regulations on issuing corporate bonds (DN).
Accordingly, Enterprises issuing bonds must comply with information disclosure before the bond issue. Specifically, Enterprises that issue bonds in the domestic market disclose information before the issuance to investors who register to buy bonds and send information disclosure content to the Hanoi Stock Exchange according to specified in Article 1 of Decree No. 81/2020 / ND-CP. Before the bond issue, the information disclosure must be signed and sealed by the enterprise's legal representative, or the authorized person to disclose information about the enterprise.
Enterprises that issue bonds to the international market shall send information disclosure contents to the Hanoi Stock Exchange following Article 27 of Decree No. 163/2018 / ND-CP.
For information disclosure on bond issuance results, bond issuers in the domestic market shall disclose information on bond issuance results following 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 No. 163/2018 / ND-CP.
For periodic information disclosure, enterprises issuing bonds in the domestic market perform regular information disclosure according to the fiscal year. Specifically, within 60 days from the end of the first six months of the fiscal year, the enterprise will publish information every six months. Within 90 days from the end of the fiscal year, the enterprise makes the annual disclosure of information.
In case of extraordinary information disclosure, enterprises that issue bonds in the domestic market disclose outstanding information according to Article 25 of Decree No. 163/2018 / ND-CP.
In addition to the above provisions, Circular No. 77/2020 / TT-BTC also details the disclosure of information on the corporate bond website, reports of bond issuance consulting organizations; reports of bond depository organizations; Stock Exchange periodical reports ...
The Circular takes effect from September 28, 2020.
