Vietnam adopts decree on corporate bond issuance

The Vietnamese government issued Decree 200/2026 on 5 June 2026, establishing comprehensive rules for the offering and trading of corporate bonds both within Vietnam and on international markets. The decree defines corporate bonds as securities with a term of one year or longer and sets out issuance principles that require companies to borrow, repay and manage bond proceeds responsibly, ensuring the ability to service debt. Issuers must disclose the specific purpose of each bond issue, track the use of funds separately, and for green bonds, allocate proceeds exclusively to environmentally beneficial projects.

The regulation applies to joint‑stock companies and limited‑liability companies formed under Vietnamese law, as well as related organisations and individuals. It prescribes bond characteristics such as maturity, denomination, currency (Vietnamese dong for domestic issues, foreign currency for overseas issues), form (certificate, ledger entry or electronic), and interest‑rate structures (fixed, floating or hybrid). Any amendment to bond terms requires approval from holders representing at least 65 % of the same‑type bonds and may involve compulsory buy‑back of dissenting investors. International bond issuances must also comply with foreign‑exchange rules and the regulations of the market where they are offered. Responsibility for compliance rests with the issuing enterprise and its governing bodies, including the board of directors and shareholders’ meeting.