What is the quoted eurobond exemption?

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Published on LexisPSL on 10/10/2019

The following Banking & Finance Q&A provides comprehensive and up to date legal information covering:

  • What is the quoted eurobond exemption?
  • What is the quoted eurobond exemption?
  • When is a bond treated as listed on a recognised stock exchange or admitted to trading on an MTF?
  • When is this exemption used?
  • What other considerations should an issuer take into account before relying on this exemption?

What is the quoted eurobond exemption?

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for DCM lawyers?

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 Q&A. For guidance, see Practice Notes:

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