Pursuant to the law on public debt management, 29 June 2009;

Pursuant to Decree No. 118/2008/ND-CP on November 27, 2008 of the Government functions, tasks, powers and organizational structure of the Ministry of finance;

Pursuant resolution No. 53/NQ-CP on 02/11/2009 of Government on the continued implementation of international bonds issued in 2009-2010 of the Government of the Socialist Republic of Vietnam;

The Ministry of Finance shall guide the management and supervision, use of resources of the Government's international bond issuance in 2010 are as follows: i. GENERAL PROVISIONS article 1. Used international bond funds: money selling government bonds on the international capital market after deducting the fees and costs related to the issuance of international bonds to be used to reimburse the State budget according to the resolution No. 53/ND-CP on 02/11/2009 of Government on the continued implementation of international bonds issued in 2009-2010 of the Government the rest according to the direction of the Prime Minister.

Article 2. Explanation of terms: in this circular, the terms below are interpreted as follows: 1. The combination of the banks underwriting the Bank's 3: Barclay's Capital, Citigroup and Deutsche Management Board of investment book release for the Ministry of finance bond purchases by contract signed on 22/01/2010 between the Finance Ministry and the three banks comes on.

2. Payment Agent: Citi Bank (Citibank) was appointed agent for payment of bonds issued in 2010 according to the payment agent appointment Letter of the Ministry of Finance on January 14, 2010.

3. review lending institutions/Bank serves: Is credit institutions authorized by Ministry of finance management for lending and loan recovery from source of international bonds issued in 2010 according to the authoritative contract signed between the Ministry of finance and credit organizations, and is for the Bank to open an account and receive funds in government bonds.

4. Contract the loan authorization again: Is the agreement signed between the Finance Ministry and lending institutions under which the Ministry of finance authorize lending institutions loan management back in again and recover the loans back from its international bond issuance 2010 (Addendum No. 1 attached to this circular).

5. loan contract: signed agreement Is between the lending institutions and the lending unit about the conditions and terms of the loans back from the constraints of resources of international bonds issued in 2010.

6. Money selling international bonds is the actual amount remaining after deduction of the expenses and costs related to the release.

II. SPECIFIC PROVISIONS of article 3. Disbursements of international bond funds: 1. Ministry of finance authorized bank account opening service for the Ministry of Finance receives international bond funds and make loan agencies back to back loans from international bond funds released in 2010 according to the purposes specified in article 1 of this circular.

2. for the State budget: after the bond money is transferred to the account of "the Ministry of finance-international bonds" in banking service, the Ministry of finance will announce your account to bank money transfer service for the State budget.

For loans: the loan unit back to open a foreign currency account at the Bank that serves to make the disbursements as planned due to loan unit again registered under the provisions of article 12 of this circular.

3. no interest rate tenor of account not yet disbursed arising on account of international bonds at Bank serving the allotted to the unit using the bond money affected by the unused balance respectively.

Article 4. The original payments, interest rate of the bonds: 1. Ministry of finance directly made the payment to the dealer paid the entire bond debt obligations (including the original debt, interest rate debt) incurred when due under the order and procedure rules of the foreign debt on the basis of the collection (including the root certificate from the , interest) due to payment agents or other agents provide, after having checked the accuracy of the documentation.

2. The source of the payment of interest, the root is from GOVERNMENT EXCESSIVE and the money recovered from the lenders.

Article 5. The fees and costs related to the release of: 1. The expenses incurred once related to the release in USD, including: a) underwriting counsel Fees;

b) Charge the law consultant in the country and abroad for the issuer and underwriting;

c) costs are charged to the dealer listing, printing, receiving representative proceedings records;

d) costs charged to companies reviews credit multiplier in the release (not including the annual fee is charged for the credit rating companies to the country, by the Ministry of finance costs paid directly to the company this year);

DD) domestic costs related to preparing release (documentary film about the promotion of Vietnam). 

2. The annual fee: is the money transfer fee, the fee paid to the payment agent and the stock exchange of Singapore annually based on notifications and invoices claiming money payment agent and the stock exchange of Singapore.

Article 6. The method of payment for the fees and costs: 1. The entire cost, costs arising 1 times related to international bonds issued by the unit to use the money to sell bonds subject according to the proportion of capital allocation by nominal value and is deducted immediately to the real amount of currency.

2. The annual fee shall be the Ministry of finance application charged when incurred after that allocation for the State budget and lending units suffered according to the proportion of capital used. The Ministry of finance will inform the lending agency to loan unit recovered from back and returned to the Ministry of finance.

3. The other costs related to the transfer of funds in and out of the country in the process of disbursing funds from the bond issuance, repayment for bond release clause (if any) will by the State budget and/or loan unit suffered as the real account. The Bank serves are responsible for calculating and collecting the fees for each subject in each specific case.

Article 7. The conditions of lending: lending was done according to the following conditions: 1. the loan value back (get debt): is the value of the bonds by denomination.

2. The time limit for lending: by the term bonds.

3. The interest rate for lending: by nominal interest rate of the bonds is 6.75% per year.

4. loan currency: Is the U.S. dollar (USD).

5. time to get debt: from the international bond issue date is on January 29, 2010.

6. payment of principal and interest of bonds: bonds are Interest-periodic payment twice a year on October 7 and October 12 every year, starting on July 29, 2010.

-Original bonds be paid once upon maturity on January 29, 2020.

Article 8. Lending fee: 1. lending unit to pay back the loan fee loan agencies back under the level of 0.25% per year on the outstanding balance.

2. loan Fees are charged according to the time of the periodic interest payments, original.

Article 9. Control and disburse the loan capital: 1. When making disbursements, loan unit back to provide the necessary documents relating to the purpose of use of capital as the loan contract with the repayment schedule, the paper demanded debt for each proposal to withdraw capital, other relevant records for the respective funds disbursement request , the command (or delegate) to the lending agency test accuracy consistent with the plan and purpose of the loan unit registered again made.

2. After checking, transfer back to the lending institutions on account of the loan unit back and make money order or order of the loan unit.

Article 10. Recovery of loan debt: 1. Lending institutions have the responsibility to urge and request the loan transferred units charged the entire root, the interest rate the bonds when due and the fees and costs incurred on account of repayment of the accrued Fund finance loan authorized by contract back signed between the Finance Ministry and the Bank serves to finance transferred to the payment agent.

2. The order of debt collection and debt repayment is made as follows:-on receipt of certificate from the collection of the dealer, the Finance Ministry moved to split the account is charged for each component between the budget and lending again. For loans, the Finance Ministry reported to the Agency for lending the money to pay which details each of the original debt, interest rates and fees.

-The time limit for the notice: the Ministry of Finance announced before the maturity of a minimum of 10 (ten) working days to lending institutions require the loan unit back payments are paid on the basis of evidence from claiming money that Finance Ministry notification and provide.

-According to demand payment of the lending institutions, the lending unit to refund directly to the account of the Fund accrues repayment before maturity of minimum 1 (one) working day to finance the necessary procedures to transfer payable to the agent.

3. debt collection coins: Is the US dollar (USD).

Article 11. Application of capital cases: 1. in case of application of capital: towards the loan, in case the loan unit arrangements not enough money to pay a portion or the entire obligation to pay to the limit (original international bonds, interest rates), the borrower must have dispatch send back the lending agency and the Ministry of finance to the lending agency to back the repayment ability of the evaluation unit the loan back. The deadline to send dispatches to the lending agency and the Ministry of finance is before the date due interest and fees a month, and before the original due date (3) months. After the lending agency back to evaluate the repayment of the loan unit back and confirm the likelihood of repayment of the loan unit yet back then the lending agency Ministry of finance to report back on the application of capital repayment. The case was the Ministry of finance approved the application of capital payment, the loan unit back to the required loan contract with the Ministry of finance.

2. Interest on capital payment applications: by lending rate again.

3. payment procedure: the Ministry of Finance made the repayment directly to the agent's account paid from funds accumulated debt. After the implementation, the Ministry of finance will announce officially the amount plus fee were paid to write to the application-contract.


4. The time limit for the application of capital: the Ministry of finance only the application of capital to pay an interest rate of term and the next response times only made when advance has been repaid in full.

5. slow interest rate charged: the case of slow lending unit paid compared to the commitment in the contract applications signed with the Ministry of finance capital and lending institutions, the unit is the application which suffered slower rates charged by 150% of the interest rate calculated on the equity effects of days overdue.

6. The entire application procedure which is performed according to the provisions of the regulation, use and management of the Fund to accumulate current repayments.

Article 12. Use of international bond funds loans back: 1. Planning to disburse the loan unit again establishment: the overall plan on the use of international bond funds for specific purposes as bases make disbursements. This plan was submitted to the Finance Ministry for approval. After approval, the Finance Ministry reported for lending institutions to oversee the disbursement and use of capital lending unit.

2. use of the temporary capital idle: to enhance the efficient use of capital, lending units are allowed to use the temporary capital idle not yet disbursed according to the principle:-the use of temporary capital idle have to ensure safety, efficiency and not affect plans to use bond funds according to the purpose of use is approved by the Government and the Prime Minister the master plan has been approved by the Ministry of finance.

-When the capital temporarily idle due to parked according to the overall plan has been successful, the loan unit sent back dispatches for the Ministry of finance and lending agencies again stating the plan and detailed plan expected use (amount, time and method of expected use) of funds idle. After the Finance Ministry approval to use the lending unit, send dispatch with the necessary documents for loan agencies back to the proposal to transfer the amount expected temporarily to use according to the approved purpose. When expired, the lending unit has the responsibility to refund the original sum was temporarily used for the account of the Ministry of finance bonds to make the next mission as the overall plan. Lending institutions have the responsibility to urge, to oversee this refund.

Article 13. Report period: 1. responsible lending unit and send back the lending agency and the Ministry of finance reports on the planned use of capital stipulated in article 12 of this circular.

2. Monthly, quarterly, year of the loan unit has the responsibility to report the implementation of exit and the layout, use temporary bond idle capital to send back the lending agency and the Ministry of finance. As for the reported month, the time limit for submitting the report is before the date of the next and previous month 05 15 day of the month beginning next quarter for quarterly reports; and before January 31 of the next year for the reporting year.

3. On the basis of the report of the month, quarter, year of the loan, the loan agencies back to the monitor, check the quality of the report and monthly report of the Ministry of Finance on the State loan bonds capital management. The time limit for submitting the report after report of the term lending unit 5 days for the report, and 10 days for quarterly reports and 15 days for the reporting year.

Article 14. Debt payment priority: 1. debt payment priority: highest-priority debt obligations to loan unit's payment of loans from the Government's international bond. In a moment, if the loan unit back there debt obligations to limit the right to payment is the first payment of international bonds, debt obligations of the Government.

2. In case the loan unit does not perform his obligations, the Ministry of finance through lending institutions require the loan unit again according to the compensation agreement commitments. In case the loan unit not compensated in accordance with the agreed commitments, the Ministry of finance may request all the banks serve the blocked Member lending unit to repay.

Article 15. Accounting mode, check, audit, settlement: 1. lending unit is responsible for implementing the accounting in accordance with current accounting regime of the State.

2. the loan unit has the responsibility to prepare and send back the lending agency reports on plans to use the capital as defined in article 12 of this circular.

3. The end of the financial year, the lending unit to audit company selected to perform the audit of the annual and financial reports sent to the Agency and the Ministry of finance lending slows as 15 days after the report on the audit.

4. lending unit is responsible for checking the use of capital in the project, use the correct source of international bonds and the purpose of effective units, organized in his system.

5. Quarterly lending agencies again, do check the use of capital in the loan unit.

6. annual or periodic as required, in collaboration with the Ministry of finance lending agencies again check the use, recovery of debt capital bonds in international lending unit.

Article 16. Responsibility of the loan unit: 1. Completely responsible before the law on the use of money resources in international bonds issued by the Government was lending according to the objectives that the Government has approved. Any misuse of purpose or does not fulfill the obligation was committed under the loan contract will be dealt with as required by law.

2. loan contract with lending institutions under the terms and conditions specified in this circular, in accordance with the contract and the loan authorization provisions of the lending agencies again but not contrary to the provisions of this circular.

3. Commit to getting debt, returned to the Ministry of finance through lending institutions under the agreement of the loan contract and regulations of this circular.

4. open and maintain the bookkeeping, give back the lending agency and stored documents from the suit about the withdrawal of capital and use the loan according to the regulations.

5. Perform periodic reports in accordance with article 17 of this circular.

Article 17. Responsibilities of lending institutions: 1. Make receiving international bond funds after the release and transfer the money according to the correct address and account of GOVERNMENT EXCESSIVE lending by the unit and the Finance Ministry announced.

2. Execute borrowing contract with lending units according to the terms and conditions specified in this circular, in accordance with the contract and the loan authorization provisions of the lending agencies again but not contrary to the provisions of this circular.

3. Urge the withdrawal of the original debt, interest rate debts when due from the loan unit back and accumulated Fund account to pay the debt of the delinquent financial regulations.

4. Quarterly and annual reports, the Finance Ministry about the status of capital of the loan unit used in annex 2 of this circular and the problems arising in the course of performing their duties authorized by the provisions of article 14 of this circular. In the case generated the need to handle, the lending institutions have a responsibility to report immediately to the Ministry of finance to coordinate resolution according to the authority.

5. Perform the function of monitoring the use of bond capital lending unit. 

Article 18. The responsibility of the Ministry of Finance (debt management Bureau and foreign financing): 1. Provide to the lender and loan units, settlement vouchers again the expenses deducted money for international bonds issued by the Ministry of finance and the underwriting banks made.

2. The synthesis documents related to the charges arise, allocate and inform the lending agency to loan unit and back again as a basis for reimbursing the Ministry of finance.  

3. Check for the full amount of interest due fees, accompanied by evidence of actual payment agent offer and moved to the lending institutions back to report promptly to the lending unit to make the payment.

4. where necessary, arrange for foreign currency (in the case of lending unit charged in Vietnam) or arrange for funding applications (in case the loan unit not arrange money for payment) to ensure timely payment of principle debt obligations (original, interest rates , of the bonds) for the billing agent.

5. In collaboration with lending institutions back to perform periodic inspections and irregular situation using capital international bonds as well as the ability to perform the obligation to repay the bonds of international lending unit.

Article 19. Effect: this circular guiding the management and supervision, use of resources of the Government's international bond issuance in 2010 and have effect after 45 days from the date of signing. In the process, if there are concerns that the unit to send comments on the Finance Ministry to study the resolution.