Regulatory Alerts2023-03-05 | 08/2023/NĐ-CPAdded · Updated
Decree 08/2023/ND-CP Amending, Supplementing and Suspending the Effectiveness of Certain Articles in Decrees on Corporate Bond Offerings
Decree 08/2023/ND-CP amends Article 34 of Decree 153/2020/ND-CP to allow issuers of corporate bonds offered in the domestic market to negotiate with bondholders for repayment of principal and interest in assets other than Vietnamese Dong if they cannot meet payment obligations on time. It also amends Article 3 of Decree 65/2022/ND-CP to set a maximum extension period of two years for bond terms and mandates that dissenting bondholders retain their rights under the original offering plan even if a majority approves changes. Additionally, the decree suspends the effectiveness of specific provisions regarding professional investor status, distribution timelines, and credit rating results from Decree 65/2022/ND-CP until December 31, 2023. The decree takes effect from the date of issuance and includes transitional rules for bond offerings already in progress.
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