This Decree amends clause 3 Article 34 of Decree No. 153/2020/ND-CP to allow an issuer to reach agreement with bondholders (in case of offering of bonds in the domestic market) to make payments of bond principal and interests by assets when the issuer is unable to make full and timely payment of bond principal/interests in VND. However, the issuer has to make ad hoc information disclosure and assume the full responsibility for the legal status of assets used for paying bond principal/interests.
In addition, this Decree also amends point b clause 3 Article 3 of Decree No. 65/2022/ND-CP to allow issuers to reach agreement with bondholders on extending maturity of bonds issued before the effective date of Decree No. 65/2022/ND-CP . However, the initial maturity of bonds, as defined in the issuance plan disclosed to investors, may be extended by up to 02 years.
The following regulations of Decree No. 65/2022/ND-CP shall be suspended until December 31, 2023 inclusively:
- Regulations on determination of professional investors that are individuals in Point d Clause 1 Article 8 of the Decree No. 153/2020/ND-CP (amended in Clause 6 Article 1 of the Decree No. 65/2022/ND-CP ) .
- Regulations on time limits for distribution of bonds in Clause 7 and Clause 8 Article 1 of the Decree No. 65/2022/ND-CP .
- Regulations on reports on credit rating of issuers in Point e Clause 2 Article 12 of the Decree No. 153/2020/ND-CP (amended in Clause 9 Article 1 of the Decree No. 65/2022/ND-CP ).
This Decree takes effect from the date of its signing.
|Published||Vietlaw's Newsletter No. 602|