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 (Draft Decree) to respond to the current developments of the market. Some outstanding regulations of the Draft Decree include:
(i) Amendment of regulations on bond issuance purposes;
(ii) Amendment of credit rating requirements for certain types of corporate bond offer dossier;
(iii) Supplement of regulations on redemption of bond before maturity; and
(iv) Supplement of regulations on corporate bond trading on exchanges.