Form of debt securities—global securities
Form of debt securities—global securities

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

  • Form of debt securities—global securities
  • Global securities v definitive securities
  • Global securities—key features
  • Global securities in bearer form
  • Global securities in registered form
  • Temporary global security versus permanent global security
  • Global securities—the problem for investors
  • Global note structures
  • A quick recap on terminology—bonds versus notes
  • Summary of the different forms of debt securities

BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a Member State for many purposes. As a third country, the UK can no longer participate in the EU’s political institutions, agencies, offices, bodies and governance structures (except to the limited extent agreed), but the UK must continue to adhere to its obligations under EU law (including EU treaties, legislation, principles and international agreements) and submit to the continuing jurisdiction of the Court of Justice of the European Union in accordance with the transitional arrangements in Part 4 of the Withdrawal Agreement. For further reading, see: Brexit—introduction to the Withdrawal Agreement. This has an impact on this Practice Note. For guidance, see Practice Note: Brexit—impact on finance transactions—Brexit planning and impact—key issues for debt capital markets transactions and Brexit—impact on finance transactions—Derivatives and debt capital markets transactions—key SIs.

Debt securities, such as bonds, medium-term notes and commercial paper, are financial instruments which acknowledge a debt (see Practice Note: Types of debt securities). Issuing debt securities in the debt capital markets is a means of raising large-scale finance (see Practice Note: Introduction to the debt capital markets).

This Practice Note examines some of the different forms that debt securities can take