Past version: Effective up to 18 May 2016
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 $50 million for the last three years, or a minimum pre-tax profit of $20 million for any one of the three years; and consolidated net tangible assets of at least $50 million; 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 sophisticated or institutional investors.
(3) The issue of debt securities must have a credit rating of investment grade and above.