News & Analysis as of

Debt Securities

Shearman & Sterling LLP

Comment Letter on SEC’s Proposed Revisions to Financial Disclosure Requirements

by Shearman & Sterling LLP on

On September 18, 2018, Shearman & Sterling submitted a comment letter on the SEC’s proposed revisions to the financial disclosure requirements for registered debt securities that are guaranteed or collateralized with...more

Jones Day

Greater Flexibility for Belgian Companies Issuing Bonds

by Jones Day on

The Situation: A draft law designed to substantially reform the Belgian Companies Code was submitted to the Belgian Parliament for review ("New Companies Code") on June 4, 2018. The Result: The New Companies Code will lift...more

Morrison & Foerster LLP

SEC Proposes Rule Amendments to Simplify Guarantor and Pledgor Financial Disclosures in Registered Debt Offerings

by Morrison & Foerster LLP on

On July 24, 2018, the Securities and Exchange Commission (“SEC”) voted to propose rule amendments (the “Proposed Rules”) to simplify and streamline the current financial disclosure requirements for issuers and guarantors of...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Proposes to Ease Disclosures Required by Rules 3-10 and 3-16 of Regulation S-X in Certain Registered Debt Offerings

On July 24, 2018, the Securities and Exchange Commission (SEC) proposed rule amendments that would simplify the financial disclosure requirements applicable to registered debt offerings for guarantors and issuers of...more

Mayer Brown Free Writings + Perspectives

SEC Proposes Amendments to Financial Statement Disclosure Requirements in Rules 3-10 and 3-16 of Regulation S-X

On July 24, 2018, the Securities and Exchange Commission (SEC) proposed amendments to the financial disclosure requirements in Rules 3-10 and 3-16 of Regulation S-X, in an effort to simplify and streamline disclosures by...more

Bass, Berry & Sims PLC

SEC Proposes to Simplify Guarantor and Pledgor Disclosures in Registered Debt Offerings

by Bass, Berry & Sims PLC on

On July 24, the SEC proposed amendments to Rule 3-10 of Regulation S-X for guarantors and issuers of guaranteed securities registered or being registered, as well as the financial disclosure requirements in Rule 3-16 of...more

Mayer Brown Free Writings + Perspectives

Debt Capital Markets in the United States: Regulatory Overview

In a recently published Practical Law Capital Markets Global Guide 2018 article, “Debt Capital Markets in the United States: Regulatory Overview,” Counsel Brian Hirshberg and Partners Anna Pinedo and Remmelt Reigersman...more

King & Spalding

Private Over Public? An Emerging Markets Perspective

by King & Spalding on

The private placement of debt securities, compared to the more common public issuances, has grown in popularity in recent years, particularly in emerging markets such as those in the Middle East. Whilst there is little...more

Kramer Levin Naftalis & Frankel LLP

Opportunistic CDS Strategies Available to CDS Protection Sellers Part I: An Introduction

Over the past few years, the CDS market has seen an increase in activism and the evolution of creative refinancing and restructuring strategies intended to achieve particular outcomes in the CDS market....more

Dentons

Ascertaining fair market value for "repo" trades under GMRA standard terms

by Dentons on

In the recent decision in LBI EHF v. Raiffeisen Bank International AG [2018] EWCA Civ 719, the Court of Appeal has considered the close-out valuation provisions for "repo" trades entered into under a Global Master Repurchase...more

Ropes & Gray LLP

Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision

by Ropes & Gray LLP on

Credit funds that invest in distressed debt, whether through secondary trading or loan origination, not only must evaluate the borrower’s credit quality and business plan, but, with the help of their lawyers, must also keep...more

Ropes & Gray LLP

Podcast - Credit Funds: How Managers Can Avoid and Mitigate ERISA Conflicts

by Ropes & Gray LLP on

Credit fund managers face unique conflicts issues under ERISA that require specific policies and procedures designed to identify, avoid and mitigate the risks these conflicts pose. This podcast serves as an introduction to...more

White & Case LLP

Introduction to Debt Exchange Offers

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 9 - Issuers have a variety of tools when dealing with upcoming debt maturities, including using a combination of exchange offers, tender offers, and/or new money issuances and...more

Jones Day

New Category of Debt Securities: Senior Non-Preferred Notes, European Capital Markets Update

by Jones Day on

On 20 July 2017, Belgium adopted legislation establishing senior non-preferred notes, a new category of debt securities available to banking institutions. The law provides for a new Article 389/1 into the Law of 25 April 2014...more

Jones Day

French Regulators Launch Public Consultation for Initial Coin Offerings

by Jones Day on

The Situation: French investors continue to show interest in initial coin offerings. The Result: The French Financial Market Authority has launched a public consultation to assess whether ICOs might fall within the scope...more

Proskauer Rose LLP

EU PRIIPs Regulation – Relevance to Fund Managers Explained

by Proskauer Rose LLP on

Background - On 1 January 2018, European Union (EU) Regulation (No 1286/2014)[1] on key information documents for packaged retail and insurance-based investment products (PRIIPs) comes into force. It will require that a...more

Dorsey & Whitney LLP

SEC Claims Individual, Firm Engaged In Unregistered Dealer Business

by Dorsey & Whitney LLP on

The Commission’s recently released report on the Enforcement Division identified retail investors and cyber as key areas of emphasis for Enforcement under Chairman Clayton. Examples of the retail focus are actions involving...more

Allen Matkins

Judge Alex Kozinski On Debt Versus Equity

by Allen Matkins on

Judge Alex Kozinski succinctly frames the debt versus equity battle in this opinion issued yesterday...more

Jones Day

Blockchain Distributed Ledger Technology Approved for Nonlisted French Securities

by Jones Day on

The Situation: French authorities intend to amend securities laws to permit the use of blockchain technology. In March 2017, the French Treasury launched public consultation relating to the use of such technology and its...more

Dechert LLP

SEC Staff Issues FAQs on the Investment Company Reporting Modernization Rules and Forms

by Dechert LLP on

The staff of the U.S. Securities and Exchange Commission’s (SEC) Division of Investment Management (Staff) on July 18, 2017, released answers to frequently asked questions (FAQs) about the rules and forms relating to...more

Jones Day

A New Category of Debt Securities in Belgium: Senior Non-Preferred Notes

by Jones Day on

On July 20, 2017, Belgium adopted legislation establishing a new category of debt securities available to credit institutions and investment firms ("banking institutions"). The law provides for a new Article 389/1 into the...more

Shearman & Sterling LLP

Second Circuit Partially Vacates Class Certification, Holding That Whether Securities Transactions Are "Domestic" Raises...

by Shearman & Sterling LLP on

On July 7, 2017, in a decision making several significant rulings and clarifications, the United States Court of Appeals for the Second Circuit vacated in part an order certifying classes asserting claims under the Securities...more

White & Case LLP

OJK Simplifies the IPO Process and Enhances Disclosure

by White & Case LLP on

New regulations issued by the Indonesian Financial Services Authority (Otoritas Jasa Keuangan "OJK") aim to increase the number of public offerings in Indonesia by (1) shortening the regulatory review period by adopting a...more

Dentons

Kennis bestuurder/aandeelhouder wordt toegerekend aan vennootschap (Dutch)

by Dentons on

Recently a ruling from the Gelderland Court has been published which deals with the unlawful conduct of a company in granting a right of mortgage for the security of a debtor's debt....more

Proskauer - Private Equity Litigation

Reported Criminal Probes Regarding Bond Valuations Highlight the Importance of Valuation Procedures

According to recent news reports, the DOJ and the SEC are investigating the possible improper use of third-party broker quotes by hedge fund managers to value illiquid debt securities in their portfolios. Prosecutors are...more

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Updated: May 25, 2018:

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Updates to This Policy

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