JSE Debt Listings Requirements: project bonds
“Project bonds” are defined as “bonds that are financed by the cash flows of a ring-fenced development project (for example, infrastructure or renewable energy projects)”.
A key concern raised by project bond issuers during the consultation process related to their inability to comply with certain provisions of the DLRs, in particular, in relation to the disclosure of sensitive information to the public and complying with certain of the financial reporting requirements contained in the DLRs. These and other concerns are addressed in the new section 10, but time will tell to what extent market participants embrace these new DLRs, thereby making the debt capital markets more accessible to this market than is currently the case.
Key features of section 10 include:
- Tax Reform – Considerations for U.S. Multinationals
- Self-regulation and the Financial Self-Regulation Committee
- Supreme Court Limits the Scope of Safe Harbor Protection in Avoidance Actions
- British Virgin Islands' New Limited Partnership Act Offers Significant Changes
- ENSafrica appoints new banking and finance director
- ENSafrica launches ENSafrica intelligENS
- ENSafrica newsflash
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