Issuing debt securities—due diligence
Issuing debt securities—due diligence

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

  • Issuing debt securities—due diligence
  • Reasons for conducting due diligence
  • Scope of due diligence in a debt capital markets transaction
  • Legal due diligence in a debt capital markets transaction
  • Accounting and financial due diligence in a debt capital markets transaction
  • Business due diligence in a debt capital markets transaction
  • Process

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.

In a debt capital markets transaction, 'due diligence' is the term given to the process of identifying, collating and checking information on the issuer, its business, the market in which it operates and the legal and regulatory regime to which it is subject. The results will be disclosed to potential investors as part of the offering process.

Reasons