London Stock Exchange introduces “Professional Only” Debt Segments for Qualified Investors on Main Market

Following the application date of the new Prospectus Regulation (“The Prospectus Regulation”) (Regulation (EU) 2017/1129) on 21 July 2019, issuers are now able to issue bonds on a regulated market with no restriction on denomination if the bonds are distributed to Qualified Investors only.

In response, London Stock Exchange now offers dedicated “Professional Only” segments on its Main Market, which is an EU regulated market for the purposes of the Prospectus Regulation.

These segments are clearly labelled as suitable for professional investors only and enable issuers to admit securities in any denomination in accordance with the Prospectus Regulation requirements. For full details and more information please view the Exchange’s Millennium Exchange and TRADEcho Business Parameters document. A list of Main Market Fixed Income Professional Only 0segments and sectors can also be accessed here.

Using London Stock Exchange for publication of issuance documents under Article 21(2) of the Prospectus Regulation

Issuers can now also take advantage of the option to upload issuance documents, for example prospectuses, programmes, final terms and documents incorporated by reference, to London Stock Exchange’s website at the time of application for admission.

Article 21(1) requires a prospectus to be made available to the public, and Article 21(2) states that one method via which a prospectus will be deemed available to the public is publishing it on the website of the regulated market where admission to trading is sought.

Please also see here for our regulatory update on the new Prospectus Regulation and the broader potential impacts on Fixed Income Issuers.

If you would like to discuss these changes please contact the team at bonds@lseg.com or call us on +44 (0)207 797 3921.

Fixed Income team

London Stock Exchange plc
E: bonds@lseg.com
T: +44 (0)207 797 3921