Guidance on the Private Placement of Corporate Bonds in the Domestic Market

Corporate bonds are currently governed by Decree No. 153/2020/ND-CP, dated 31 December 2020, on the private placement of corporate bonds, the trading of privately placed corporate bonds in the domestic market, and the offering of corporate bonds to the international market, as amended and supplemented by Decree No. 65/2022/ND-CP and Decree No. 08/2023/ND-CP (“Decree 153”). On 17 May 2023, the Ministry of Finance issued Circular No. 30/2023/TT-BTC, which provides guidance on a number of regulations concerning registration, depository, exercise of rights, transfer of ownership, transaction settlement, and the organization of the trading market for privately placed corporate bonds in the domestic market (“Circular 30”). Circular 30 specifically applies to privately placed corporate bonds (the “Bonds”) issued from 1 January 2021 in accordance with Decree 153. For Bonds issued prior to 1 January 2021 that remain outstanding, bond depository and trading activities will continue to be carried out in accordance with the approved bond issuance plan.