September 2000
Eurobonds
and Warrants
Guide to listing
2
Contents
Page
Definitions
3
1
Introduction
8
2
Listing agents
9
3
Conditions for listing
12
4
Listing particulars
17
5
Listing application procedures
26
6
Publication and circulation
31
7
Documents constituting specialist
35
debt securities
8
Asset-backed securities
36
9
Debt issuance programmes
37
10
Warrants
40
Contents of listing particulars or
equivalent offering document:
Schedule 1
Debt securities other than state-guaranteed or
45
convertible debt securities
Schedule 2
State-guaranteed debt securities
61
Schedule 3
Convertible debt securities (including debt
66
securities with equity warrants)
Schedule 4
Issues by states and their regional or
85
local authorities
Schedule 5 Warrants: information required in respect of the
86
underlying securities, assets, indices or variables
Schedule 6
Continuing obligations
89
Schedule 7
Bearer Securities
96
3
Definitions
A full list of definitions used in this publication is set out in The Listing Rules.
Those most relevant to the listing of securities covered by this booklet are set
out below.
asset-backed securities
specialist debt securities backed by assets
which, at the time of the relevant issue, are
evidenced by agreements and intended to
produce funds to be applied towards
interest payments due on the securities and
repayment of principal on maturity except
those debt securities which are directly
secured, in whole or in part, on real property
or other physical assets
convertible securities
securities which are convertible into or
exchangeable for other securities or
securities accompanied by warrants or
options to subscribe or purchase other
securities, and ‘conversion’ and ‘convertible’
shall be construed accordingly
debt securities
debentures, debenture or loan stock, bonds
and notes, whether secured or unsecured
Directives
all, or any, as the context shall require, of
the Admission Directive, the Interim Reports
Directive, the Listing Particulars Directive,
the Major Shareholding Directive and the
Publi