The Governor of the State Bank of Vietnam issued Circular No. 16/2025/TT-NHNN amending and supplementing a number of articles of Circular No. 04/2021/TT-NHNN dated April 5, 2021 regulating refinancing for credit institutions after credit institutions lend to Vietnam Airlines Corporation - Joint Stock Company and restructuring debt repayment terms, maintaining debt groups, and setting up risk provisions for debts of Vietnam Airlines Corporation - Joint Stock Company due to the impact of the COVID-19 pandemic.
The State Bank has extended the debt restructuring period for Vietnam Airlines by 3 years. (Photo: Vietnam+)
Specifically, Article 1 of Circular 16 amends and supplements a number of provisions in Circular No. 04/2021/TT-NHNN, including debt repayment restructuring, debt classification and risk provisioning; responsibilities of a number of units under the State Bank after restructuring.
Notably, in Article 12 of the Circular, credit institutions shall restructure the debt repayment period for the debt of Vietnam Airlines Corporation - Joint Stock Company (Vietnam Airlines) within a maximum period of no later than December 31, 2027, based on the request and assessment of the enterprise's debt repayment capacity.
Thus, compared to the provisions of Circular 04, the restructuring period for Vietnam Airlines' debts is extended by 3 years. During the restructuring period, credit institutions shall classify debts and set up risk provisions according to the Prime Minister 's Decision.
Previously, in 2020, due to the impact of the COVID-19 pandemic, Vietnam Airlines proposed the Government to support a subsidy package worth VND12,000 billion, including refinancing loans (VND4,000 billion) and issuing shares to existing shareholders to increase charter capital (VND8,000 billion).
In Resolution 135 of 2020, the National Assembly allows the State Bank of Vietnam to refinance and extend the loan term no more than twice for credit institutions to lend additional capital to Vietnam Airlines Corporation for production and business activities.
At the end of March 2021, the Prime Minister agreed to allow the State Bank to refinance without collateral for banks to lend to Vietnam Airlines before December 31, 2021, with an interest rate of 0%/year, with provisions set aside for 3 years. The total amount of refinance disbursement for credit institutions is a maximum of VND 4,000 billion.
As of July 7, 2021, after the State Bank's regulations, Vietnam Airlines signed credit contracts with 3 commercial banks: Southeast Asia Bank (SeABank), Vietnam Maritime Bank (MSB) and Saigon - Hanoi Bank (SHB) with a total amount of 4,000 billion VND.
Source: https://vtcnews.vn/ngan-hang-nha-nuoc-gia-han-thoi-gian-co-cau-no-cho-vietnam-airlines-them-3-nam-ar956368.html
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