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On September 16, 2022, the Government issues the Decree No. 65/2022/ND-CP on amending and supplementing a number of articles of Decree No. 153/2020/ND-CP on private placement of corporate bonds and trading of privately placed corporate bonds.
In particular, the Decree 65/2022 supplements regulations on premature redemption of bonds, including:
- Premature redemption of bonds under the agreement between the bond-issuing corporations and the bondholders.
- Compulsory redemption at the request of investors when:
- Bond-issuing corporations violate the law on offering and trading corporate bonds under a decision of the competent authority, which cannot be remedied or the remedy is not approved by the number of bondholders representing 65% or more of the total number of bonds of the same type in circulation.
- Bond-issuing corporations violate the law on offering and trading corporate bonds under a decision of the competent authority, which cannot be remedied or the remedy is not approved by the number of bondholders representing 65% or more of the total number of bonds of the same type in circulation.
- Other cases of other bond issuance plans as prescribed in Article 13 of this Decree (if any). Violations on enterprise information, conditions, and provisions of the bond offering, criteria for bonds....
Note: Regulations on compulsory redemption at the request of investors do not apply to cases where bonds are revoked under a decision of a competent authority.
The Decree 65 takes effect on September 16, 2022
