Vietnam eases offshore debt rules

Corporate & Securities partner David Harrison is quoted in this article discussing the State Bank of Vietnam’s Circular 8 on offshore loans and bonds, which came into effect on August 15.

“A new provision allows for short-term loans to come in as bridge loans in a refinancing scenario, which may provide a structure to potentially avoid bond defaults,” he says, adding that “this may also present more opportunities for restructuring and workout scenarios to shepherd in new liquidity into the market, even if it is short-term".