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:
- “Seismic Shifts in Digital Technology:” Supreme Court Creates Exception to Third-Party Doctrine for Cell-Site Location Information
- Proposal for a Directive of the European Parliament and of the Council on Credit Services, Credit Purchasers and the Recovery of Collateral
- Open Banking: where next for the UK banking sector?
- Does Your Bank’s Website Invite ADA Lawsuits?
- ENSafrica appoints new banking and finance director
- ENSafrica launches ENSafrica intelligENS
- ENSafrica newsflash
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