Whole Section

  • Part III Listing Requirements for Foreign Debt Securities

    • 304

      One of the following requirements must be met for the listing of an issue of foreign debt securities:—

      (1) The issuer must be:—
      (a) a supranational body; or
      (b) a government, or a government agency whose obligations are guaranteed by a government; or
      (c) an entity whose equity securities are listed on the Exchange; or
      (d) a corporation which meets the following requirements:—
      (i) Rule 210(2), (3), (4) and (5) for the listing of equity securities; or
      (ii) A cumulative consolidated pre-tax profit of at least S$50 million (or its equivalent in foreign currencies) for the last three years, or a minimum pre-tax profit of S$20 million (or its equivalent in foreign currencies) for any one of the three years; and consolidated net tangible assets of at least S$50 million (or its equivalent in foreign currencies); or
      (e) a corporation whose obligations under the issue of the debt securities are guaranteed by any of the entities in Rule 304(1)(a), (b), (c) or (d).
      (2) The issue of debt securities must be at least 80% subscribed by specified investors.
      (3) The issue of debt securities must have a credit rating of investment grade and above.
      (4) The issuer or guarantor must meet the criteria for exemption under the Securities and Futures (Offers of Investments) (Exemption for Offers of Straight Debentures) Regulations 2016.
      (5) The issuer or guarantor must meet the eligibility criteria under Part VI of this Chapter.

      Amended on 19 May 201619 May 2016.