On 6 November 2024, the Ministry of Finance issued Circular No. 76/2024/TT-BTC (“Circular 76”) regulating the information disclosure and reporting regime for the domestic and international placement and transactions of private corporate bonds. Circular 76 takes effect from 26 December 2024.

Circular 76 stipulates the information disclosure regime for bond-issuing enterprises and the reporting regime for the Stock Exchange, the Vietnam Securities Depository and Clearing Corporation, bond issuance advisory organizations, auction organizations, underwriters, bond issuance agents, bondholder representative organizations, and bond registration and depository organizations.[1]

Information Disclosure by Issuers

For bonds issued in the domestic market, the issuers must (i) disclose information before the placement, (ii) disclose information on the bonds placement results, (iii) annually and biannually disclose information, and (iv) irregularly disclose information as required. [2] Furthermore, in case of bonds conversions, execution of bonds warrants, early redemptions, or bonds swaps the issuer must disclose related information. [3]

For bonds issued in the international market, the issuer must disclose information before the placement, disclose information on the placement results, and periodically disclose information as required. [4]

Reporting by Related Stakeholders

Bond issuance advisors, auctioners, underwriters, bond issuance agents, bondholder representatives, bond registration and depository organizations, and the Vietnam Securities Depository and Clearing Corporation must submit their reports quarterly and annually. The deadline for submitting quarterly reports is the 15th day of the first month of the following quarter, and the deadline for submitting annual reports is the 31st of January of the following year.[5]