TMI BlogIssues pertaining to primary issuance of debt securitiesX X X X Extracts X X X X X X X X Extracts X X X X ..... nvention for calculation of interest payments for listed corporate debt securities (for all new issues of corporate bonds) shall be Actual/Actual. This is reiterated in the circular dated January 24, 2013 providing Guidelines for Setting up Dedicated Debt Segment. It has been pointed out by the market participants that the disclosures can further be improved, if cash flows concerning interest payment and redemption of debt securities are given by way of illustration in the offer document. Considering the same, it has been decided that the cash flows emanating from the debt securities shall be mentioned in the Prospectus/Disclosure Document, by way of an illustration. Further, for the purpose of standardization and in line with the dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ently, the companies proposing to make public issue of debt securities are required to give the audited financials in the offer document, which are not older than 6 months from the date of the prospectus, as per the disclosure requirements specified in SEBI (Issue and Listing of Debt Securities) Regulations read with Schedule II to the Companies Act, 1956. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 enables listed issuers to disclose unaudited financials for stub period with limited review report in the offer document, in case of further public issues or rights issue of equities, where audited accounts as at such date are not available. To avoid hardships to frequent debt issuers, it has been decided that listed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reement as per the Annexure B to this circular. 3. This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets. 4. This circular is available on SEBI website at www.sebi.gov.in. Yours faithfully, Barnali Mukherjee General Manager Investment Management Department Tel No.022-2644 9660 Email Id - barnalim@sebi.gov.in Encl: as above Annexure- A Illustration of Bond Cash Flows to be shown in Information Memorandum Company XYZ Limited ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14,47,500.00 * F.Y. 2016 is a leap year and the coupon payment date is falling on a Sunday, therefore the coupon is paid on the following working day and has been calculated for 367 days. (If the maturity date falls on a holiday, redemption and accrued interest are payable on the immediately previous working day). Note: The interest payment should be rounded to nearest rupee as per FIMMDA Handbook on market practices . Annexure B Amendement to Simplified Debt Listing Agreement After Clause 2, the following shall be inserted: Clause 2A: The issuer shall disclose the name of the debenture trustees with full contact details in their annual report and as ongoing basis, on their website . ..... X X X X Extracts X X X X X X X X Extracts X X X X
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