Debt capital markets—Ireland—Q&A guide

The following Banking & Finance practice note provides comprehensive and up to date legal information covering:

  • Debt capital markets—Ireland—Q&A guide
  • 1. What types of debt securities offerings are typical, and how active is the market?
  • 2. Describe the general regime for debt securities offerings.
  • 3. Give details of any filing requirements for public offerings of debt securities. Outline any requirements for debt securities that are not applicable to offerings of other securities.
  • 4. In a public offering of debt securities, must the issuer produce a prospectus or similar documentation? What information must it contain?
  • 5. Describe the drafting process for the offering document.
  • 6. Which key documents govern the terms and conditions of the debt securities? Who are the parties to such documents? How can such documents be accessed?
  • 7. Does offering documentation require approval before publication? In what forms should it be available?
  • 8. Are public offerings of debt securities subject to review and authorisation? What is the time frame for approval? What are the restrictions imposed, if any, on the issuer and the underwriters during the review process?
  • 9. On what grounds may the regulators refuse to approve a public offering of securities?
  • More...

Debt capital markets—Ireland—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to debt capital markets in Ireland published as part of the Lexology Getting the Deal Through series by Law Business Research (published: December 2020).

Authors: Arthur Cox LLP—Cormac Kissane; Glenn Butt; Ronan O’Keefe; Maedhbh Clancy

1. What types of debt securities offerings are typical, and how active is the market?

Debt securities offered in Ireland include asset-backed securities, vanilla debt securities, derivative-linked securities, government debt, covered bonds, secured and unsecured corporate bonds, high-yield bonds, loan participation notes, medium-term notes and green, social and sustainable bonds.

Issuers include the Irish government, sovereign states, financial institutions, global corporates and special purpose vehicles.

Issuers who decide to list their debt in Ireland may choose between the Regulated Market (formerly known as the Main Securities Market) and the Global Exchange Market (GEM – operated by Euronext Dublin). The Irish Stock Exchange plc, trading as Euronext Dublin (Euronext Dublin) is a regulated market for the purposes of the EU Markets in Financial Instruments Directive II (and is, for the time being, the only regulated market in Ireland), whereas the GEM is an exchange regulated market.

Owing to access to Irish and international investors, the option of dual listing with certain international markets and what is generally considered to be an efficient listing process, the Irish debt capital markets are particularly active. According to the

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