Please let us know about enterprise forms issued bonds and conditions to issue bonds?
On 19 May 2006, the Government issued Decree No. 52/2006/ND-CP providing detailed regulations on issue of corporate bonds. Accordingly, the enterprise forms issued bonds and conditions to issue bonds, are regulated as follows:
(i) Enterprises issued bonds, including:
- Joint stock companies;
- State owner enterprise in the process of conversion to limited liability companies or joint stock companies;
- Foreign invested enterprise;
- Credit institutions owners by the State.
Although limited liability companies are not mentioned in the Decree 52, other provisions of this Decree do refer to such companies.
(ii) Conditions to issue bonds:
An enterprise which wishes to issue bonds, must meet all the following conditions:
- Being one of the above types of the enterprise subject to the governance of Decree 52;
- Having a minimum period of official operations of at least one year prior to the issue date;
- Having audited financial statements for the year immediately preceding the year of issue;
- Having made profit in the year preceding the year of issue;
- Having an approved plan for the issue.
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