Explain Continuous Listing in context of corporate debts.
CS Professional · Corporate Funding & Listings in Stock Exchanges · PYQS · December 2020
Explain Continuous Listing in context of corporate debts.
Answer & Explanation:
Continuous Listing (1) All the issuer shall comply with the conditions of listing specified in the respective listing agreement for debt securities while making public issues of debt securities or seeking listing of debt securities issued on private placement basis. (1A) the listed issuer is also required to comply with the post listing requirements for entities that have listed their debt securities as specified under Chapter V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Circulars issued by SEBI under this regulations. (2) Each rating obtained by the issuer shall be periodically reviewed by the registered credit rating agency and any revision in the rating shall be promptly disclosed by the issuer to the stock exchange(s) where the debt securities are listed. (3) Submit half yearly financial statement with the stock exchange containing information as specified by SEBI. Any change in rating shall be promptly disseminated to investors and prospective investors in such manner as the stock exchange may determine from time to time. (4) Debenture trustee must disclose the information to the investors and the general public by issuing a press release in any of the following events: a) Default by the issuer to pay interest on debt securities or redemption amount; b) Failure to create a charge on the assets; c) Revision of rating assigned to the debt securities
Topics: Listing
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