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Our Bureau

Mumbai, Aug. 14 SEBI’s new draft listing agreement for debt securities will consist of a single document that will replace the existing separate agreements for debentures made by way of public issue and by way of private placement.

The disclosures in the draft listing agreement are based on the principle that if an issuer of debt has his equity already listed, then such an issuer only makes minimal incremental disclosures specific to its debt issuance, said SEBI.

For those who have only debt securities listed and not equity, reasonably elaborate disclosures (though fewer than for equity) have been prescribed.

The listing agreement has two parts, Part A applicable where the equity shares of the debt issuer are already listed, and Part B for issuers listing only debt.

The new draft listing agreement is aimed at simplifying continuous disclosure requirements, said SEBI.

It follows the notification by SEBI of the Issue and Regulations for Debt Securities, which was aimed at simplifying disclosure requirements for issuance of debt securities.

More Stories on : Regulatory Bodies & Rulings | Debt Market

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