Closing Memorandum for a high-yield bond transaction
Produced in partnership with Ranajoy Basu of Reed Smith
Closing Memorandum for a high-yield bond transaction

The following Banking & Finance precedent Produced in partnership with Ranajoy Basu of Reed Smith provides comprehensive and up to date legal information covering:

  • Closing Memorandum for a high-yield bond transaction

This is a template closing memorandum for use in a high-yield bond transaction. It sets out steps to be taken during the course of a high-yield bond transaction. Additional documents or steps (such as escrow arrangements) may be required, depending on the specific transaction. This pro forma closing memorandum has been drafted on the basis of a high-yield bond issuance which is secured, has the benefit of guarantees from the issuer group, is rated and is listed on a stock exchange, and where the issuer is relying on Regulation S and Rule 144A of the US Securities Act 1933. You may come across a deal which does not use a closing memorandum. Rather, counsel only drafts the certificates typically appended to the closing memorandum. If this is the case, be sure that all certificates are drafted and that all necessary documents and steps are covered. The preference would be to put the full closing memorandum together for completeness.

[ISSUER]

€[][Floating OR Fixed] Rate Senior [Secured] Notes due []

_________________

CLOSING MEMORANDUM

[Date]

_________________

The following is a list of the names of certain parties mentioned and of certain terms used in this Closing Memorandum, together with the designations used herein:

Auditors[]
Authentication Agent[]
Blue Sky MemorandumA final Blue Sky Memorandum, dated [], from [Counsel to the Initial Purchasers] to the Initial Purchasers, regarding the qualification of the

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