Vietnamese
On April 23, 2023, the State Bank of Vietnam issues the Circular No. 03/2023/TT-NHNN providing the purchase and sale of corporate bonds by credit institutions and foreign bank branches.
In particular, Circular 03 has the cessation of the effect of Clause 11, Article 4 of Circular No. 16/2021/TT-NHNN from April 24, 2023, to December 31, 2023.
During the period of ceasing the effect of the provisions, a credit institution or foreign bank branch (hereinafter referred to as a credit institution) may redeem corporate bonds not yet listed on the securities market or not yet registered for trading on the Unlisted Public Company Market (UPCoM) (hereinafter referred to as unlisted corporate bonds) it has sold and/or unlisted corporate bonds issued in the same lot/issuance with unlisted corporate bonds it has sold when:
- It complies with other provisions of Article 4 of Circular No. 16/2021/TT-NHNN;
- The bond purchaser has made full payment by the time of signing the contract on sale of corporate bonds with the credit institution;
- The bond issuer is rated the highest at the time nearest to the time the credit institution purchases corporate bonds under the credit institution’s regulations on internal credit rating.
Circular No. 03/2023/TT-BLDTBXH takes effect on April 24, 2023.
