News article

Back

ICMSA Bulletin with respect to recommendations for the completion of the Conditions Precedent to Closing as early as possible in the international primary market

There is a change on page one of the bulletin (providing information on large new issue transactions denominated in less liquid or ‘exotic’ currencies) to update BULLETIN – 140808/30 - recommendations for the completion of the Conditions Precedent to Closing as early as possible in the international primary market

In response to concerns raised around late closings and consequential delayed payments to issuers (causing liquidity problems), the ICMSA seeks to inform all participants in the international primary market of the ICMSA recommendations for the completion of the Conditions Precedent to Closing (CPs) as early as possible on the specified legal closing date.

These recommendations are applicable to syndicated closings through a Common Depositary taking place in European time zones and in relation to same day currencies.

Download file
Size: 212 kb
Back