Last Updated March 05, 2019

Law and Practice

Contributed By Walkers

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Walkers is a global firm with ten substantive offices around the world. Its transactions often involve Cayman Islands, British Virgin Islands, Bermuda, Jersey and/or Guernsey legal matters, and it provides an integrated service to clients across its offices, legal systems and time zones. The finance and capital markets group in Ireland comprises a team of 23, including two listing agents. The group also includes four tax-advisers (including two tax partners) who support a number of practice areas and 16 dedicated capital markets fee-earners who spend the vast majority of their time advising on debt capital markets activity. In addition, the team works with asset finance, corporate, real estate and investment funds teams on multi-disciplinary, cross-border mandates. It is one of the largest dedicated debt capital markets teams in Ireland. The firm was a founding member of the Irish Debt Securities Association (IDSA) and sits on the Executive Council and Legal, Tax, CSP and Listing Sub-committees.

There are certain eligibility requirements for setting up a debt issuance programme in Ireland.  For example, the Euronext Rules provide that the application for a debt listing programme must cover the maximum amount of securities which may be in issue and listed at any one time under the programme. If Euronext Dublin approves the application, it will admit to listing all securities which may be issued under the programme within 12 months after the approval of the prospectus by the competent authority (or other period as agreed with Euronext Dublin), subject to Euronext Dublin:

(a)       being advised of the final terms of each issue;

(b)       receiving any supplementary prospectus for approval by the CBI;

(c)       receiving confirmation that the securities in question have been issued; and

(d)       receiving any listing fees payable.

The application for admission to listing need not be submitted for issues made after the first issue in any 12-month period after approval by the competent authority of the prospectus.

A broadly similar requirement applies in respect of GEM listed debt-issuance programmes.

Walkers Global

The Exchange,
George's Dock, IFSC,
Dublin 1,
Ireland

+353 1 470 6600

+353 1 470 6601

info@walkersglobal.com www.walkersglobal.com
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Authors



Walkers is a global firm with ten substantive offices around the world. Its transactions often involve Cayman Islands, British Virgin Islands, Bermuda, Jersey and/or Guernsey legal matters, and it provides an integrated service to clients across its offices, legal systems and time zones. The finance and capital markets group in Ireland comprises a team of 23, including two listing agents. The group also includes four tax-advisers (including two tax partners) who support a number of practice areas and 16 dedicated capital markets fee-earners who spend the vast majority of their time advising on debt capital markets activity. In addition, the team works with asset finance, corporate, real estate and investment funds teams on multi-disciplinary, cross-border mandates. It is one of the largest dedicated debt capital markets teams in Ireland. The firm was a founding member of the Irish Debt Securities Association (IDSA) and sits on the Executive Council and Legal, Tax, CSP and Listing Sub-committees.

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