SEBI makes listing of debt securities simpler

(12/5/09 SEBI news) - SEBI has simplified the issuance and listing of non-convertible debt securities by companies, as part of its attempts to develop the country’s corporate bond markets. Accordingly, a company whose shares are listed and is seeking listing of its debt securities, needs to provide only “minimal incremental disclosures” for the debt issuance. Such disclosures, according to Sebi, are sufficient, as a large amount of information is already in the public domain.

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Even for companies whose shares are not listed on the stock exchange, but are looking to list their debt securities, the disclosures for the latter need not be as comprehensive as those required for an equity listing, the regulator said.

This move is aimed to enable debt issues for a more feasible fund-raising route, as the listing compliance for shares is far more complex and expensive.