Contributed By Walkers
Issuers of asset-backed securities must normally be special-purpose vehicles incorporated or established for the purposes of issuing asset-backed securities. Accordingly, the requirement to produce previous historical accounting or reporting requirements does not normally apply to such issuers. Issuers of asset-backed securities who have produced audited financial statements are required to include such financial statements in their offering document.
For issuers of debt securities (where the issuer has an obligation on issue to pay 100% of the nominal value on the scheduled maturity date in addition to which there may be an interest payment) there is a requirement to have published or filed audited accounts that:
Euronext Dublin has discretion to accept accounts relating to a shorter period than two years and may, in exceptional circumstances, waive the requirement for accounts.