Knowledge Center

VILAF is proud to have advised BIWASE Long An Water Joint Stock Company (“BIWASE”), the third largest clean water supply company in Vietnam, in its debut bond issuance, a ten-year VND700 billion 5.50% fixed-rate amortizing bond, guaranteed by Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (“ADB”). This is the first bond in Vietnam to receive an AAA credit rating from FiinRatings – Vietnam Credit Rating Agency, reflecting high […]

In this guide, Partner Trung Vu and Associate Anh Vu lend share their knowledge on Vietnam’s capital markets laws and regulations on key aspects including regulatory framework and landscape of both equity and debt capital market, common exemptions for securities offerings, trading regulations, key remedies available to shareholders of public companies or debt securities holders, expected outlook in fund raising activities in 2024, requirements for listing a company in the stock exchange, and more. Download […]

On 24 November 2023, VILAF was invited to attend “Moody’s celebrates the launch of Vietnam Investors Service” at the JW Marriott Hanoi organized by Moody’s, one of the top global credit rating service brands. Vietnam Investors Service (VIS Rating) is a joint venture between Moody’s and several members of Vietnam Bond Market Association (VBMA) to form a credit rating agency in Vietnam. Vietnam Investors Service (VIS Rating) has obtained the license for credit rating services […]

Written by Duyen Ha Vo, Tung Nguyen, and Nghiem Nguyen The Government of Vietnam has promulgated Decree 65/2022/ND-CP (“Decree 65”) to amend and supplement certain articles of Decree 153/2020/ND-CP on corporate bonds (“Decree 153”).  Decree 65 took effect on 16 September 2022. Taking a slightly different approach from an earlier draft version, Decree 65 does not increase the statutory conditions for issuing bonds.  Instead, Decree 65 focuses on tightening the eligibility for natural persons to […]

During the last three months, VILAF has advised a row of several successfully closed international bond offerings, all for listing on the Singapore Stock Exchange (SGX-ST). These deals were the first international bond deals which have been closed under Vietnam’s new Securities Law and implementing regulations. Novaland Group VILAF advised Credit Suisse (Singapore) Limited as the Sole Lead Manager in the US$300 million offering of convertible bonds due 2026 by Novaland Group. The deal also […]