BIDV permitted to issue long-term bonds for 2009

Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) issued Decision No. 1522/QD-NHNN on June 22 to allow the Bank for Investment and Development of Vietnam (BIDV) to issue long-term bonds for 2009.

Accordingly, the Bank is allowed to issue long-term bonds for 2009 with the total face value of VND 3,000 billion with the maturity of over 10 years. It also stipulates that the yield of the bonds should be in accordance with the market rate and Decision No. 16/2008/QD-NHNN dated May 16, 2008 on the management mechanism of the base interest rate in VND.

Under this decision, BIDV should comply with the Regulations on issuing valuable papers in the domestic market promulgated with Decision No.07/2008/QĐ-NHNN of the SBV Governor dated March 24, 2008.

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