Debt Capital Markets: Country Q&A Tool

Search the Debt capital markets Country Q&A in the Capital Markets Global Guide: Debt by question and jurisdiction.

Step 1: Check the boxes to select the questions and the jurisdictions for comparison.
Step 2: Click the "submit" button.
Step 3: Scroll down to view answers and check law stated dates for each jurisdiction.

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Legislative restrictions on selling debt securities

1. What are the main restrictions on offering and selling debt securities in your jurisdiction?
 

Market activity and deals

2. Outline the main market activity and deals in your jurisdiction in the past year.
 

Structuring a debt securities issue

3. Are different structures used for debt securities issues to the public (retail issues) and issues to professional investors (wholesale issues)?
 

Main debt capital markets/exchanges

4. Are trust structures used for issues of debt securities in your jurisdiction? If not, what are the main ways of structuring issues of debt securities in the debt capital markets/exchanges?
 
5. What are the main debt securities markets/exchanges in your jurisdiction (including any exchange-regulated market or multi-lateral trading facility (MTF))?
 
6. What legislation applies to the debt securities markets/exchanges in your jurisdiction? Who are the main regulators of the debt capital markets?
 

Listing debt securities

7. What are the main listing requirements for bonds and notes issued under programmes?
 
8. Are there different/additional listing requirements for other types of securities?
 

Continuing obligations: debt securities

9. Are there different/additional listing requirements for other types of securities?
 
10. Do the continuing obligations apply to foreign companies with listed debt securities?
 
11. What are the penalties for breaching the continuing obligations?
 

Advisers and documents: debt securities issue

12. Outline the role of advisers used and main documents produced when issuing and listing debt securities.
 

Debt prospectus/main offering document

13. When is a prospectus (or other main offering document) required? What are the main publication/delivery requirements?
 
14. Are there any exemptions from the requirements for publication/delivery of a prospectus (or other main offering document)?
 
15. What are the main content/disclosure requirements for a prospectus (or other main offering document)? What main categories of information are included?
 
16. Who is responsible for the prospectus (or other main offering document) and/or who is liable for its contents?
 

Timetable: debt securities issue

17. What is a typical timetable for issuing and listing debt securities?
 

Tax: debt securities issue

18. What are the main tax issues when issuing and listing debt securities?
 

Clearing and settlement of debt securities

19. How are debt securities cleared and settled and what currency are debt securities typically issued in?
 

Reform

20. Are there any proposals for reform of debt capital markets/exchanges? Are these proposals likely to come into force and, if so, when?
 
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