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New regulations on private placement and trading of privately placed corporate bonds in domestic market

On May 3, 2023, the Government issued Decree 08/2023/ND-CP amending and supplementing Decree 153/2020/ND-CP and Decree 65/2022/ND-CP, and suspending the effectiveness of a number of articles in Decree 65/2022/ND-CP related to private placement and trading of corporate bonds in domestic market and offering of corporate bonds in international market.

Some new provisions on offer and trading of privately-placed corporate bonds in domestic market

After more than 1 year of issuance and implementation, Decree 153/2020/ND-CP on offer and trading of privately-placed corporate bonds in domestic market and offer of corporate bonds to international market (Decree 153) has revealed certain inadequacies in the context of overheating of the corporate bond market in Viet Nam, with the appearance of unlawful capital mobilization from bond issuance. As a result, the Ministry of Finance is drafting a Draft Decree for amending and supplementing Decree 153 to respond to the current developments of the market.