BOND PAR VALUE OF PRIVATELY CORPORATE INCREASES 1,000 TIMES
In previous regulations, the par value of bonds privately placed/offered in the domestic market is VND 100,000 (one hundred thousand) or its multiples.
However, in accordance with law provisions prescribed in Decree No. 65/2022/ND-CP, the par value of bonds is amended as VND 100 million or its multiples. The minimum par value of bonds of privately corporate increases 1,000 times.
Bond par value of privately corporate increases 1,000 times (Illustration) Besides, Decree 64 also amends and supplements a number of regulations as follows:
- Supplement the principles of a bond issuance plan For bonds privately placed/offered in the domestic market, enterprises are allowed to change the conditions and provisions of bonds prescribed in Article 6 of this Decree after the bond issuance plans are approved by the competent authorities and the owner of over 65% of the same bond total.
- Regulations on identifying the professional securities investors Professional securities investors have financial capacity/professional knowledge of securities.
- Supplement new regulations on representatives of bondholders The representatives of bondholder’s report to the State Securities Commission of Vietnam and the Stock Exchange quarterly and yearly and report for discovering any violations from organizations that can cause affect bondholder’s benefits.
The representatives of bondholders shall be responsible for compliance with securities law and regulations prescribed in Article 14 of this Decree when supplying the representatives of bondholders. At the same time, under the management and supervision of the State Securities Commission in accordance with law provisions. If committing violations when providing services, to be administratively sanctioned in accordance with the regulations on sanctioning of administrative violations in the field of securities and securities market.
This Circular takes effect on September 16, 2022.
