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TMI BlogSpecifications related to International Securities Identification Number (ISINs) for debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008X X X X Extracts X X X X X X X X Extracts X X X X ..... the working group, on Development of corporate bond market in India , under the chairmanship of Shri. H R Khan in its report, inter-alia, recommended that the issuers coming out with frequent debt issues with the same tenor during a quarter may club them under the same umbrella ISIN which in turn would increase the float in the market, thus enhancing its liquidity. 2. Accordingly, in respect of private placement of debt securities, it has been decided to specify the following: 2.1. International Securities Identification Number (ISINs): 2.1.1. A maximum number of 17 International Securities Identification Numbers (ISINs) maturing in any financial year shall be allowed. Additionally 12 ISINs shall also be available for the issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebt securities having maturity of 5 years , which is callable after 3 years and thereafter every year until its redemption, then the debt securities shall be grouped in the bucket of 5 years maturity period which is its original maturity period even though it may be callable after a period of 3 years. 2.1.5. The provisions of this circular shall be applicable for debt securities issued in the financial year (FY) 2017-18 i.e. after the date of this circular and shall not be applicable to the ISINs maturing in respect of the debt securities issued prior to the FY 2017-18. However, post FY 2017-18, whatever issuances are made by the issuer, the issues shall be grouped and consolidated under the ISIN maturing in the same FY. 2.2. Exem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... infrastructure and affordable housing . 2.2.6. Perpetual debt instrument issued by Systemically Important Non-Deposit taking Non-Banking Financial Companies issued as per RBI circular dated October 29, 2008 on Enhancement of NBFCs capital raising option for capital adequacy purposes ; 2.2.7. Tier II bonds issued by Non-Systemically Important Non-Deposit taking Non-Banking Financial Company issued as per RBI Master Direction-Non-Banking Financial Company-Non-Systemically important Non-deposit taking Company (Reserve Bank) Directions, 2016 dated September 01, 2016. 2.3. Mechanism for honouring debt obligations arising out of capping of ISINs : 2.3.1. An issuer may honour its debt obligations/liabilities, arising out of such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rcular to make an enabling provision in its Articles of Association to carry out consolidation and re-issuance of debt securities. 3. Reporting and Monitoring : 3.1. Issuers: 3.1.1. All the issuers who have made private placement of debt securities under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, shall within fifteen working days of issue of this circular submit a statement containing data in the format as prescribed below: Name of the issuer ISIN number Issuance date Maturity date Coupon rate Payment frequency Embedded option if any Amount issued Amount outstanding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies for the purposes of their reconciliation. 3.2.4. The depositories shall thereafter within five working days of receipt of reports from the recognised stock exchanges, send a status report to the latter regarding utilization of ISINs by the issuers. 3.2.5. The recognized stock exchanges shall within thirty working days from the end of every half year, shall submit a report to SEBI, in case there has been any violation by the issuers of any provisions of this circular. 4. The provisions of this circular shall be applicable with immediate effect for the debt securities issued in accordance with SEBI (Issue and Listing of Debt Securities) Regulations, 2008. 5. This circular is issued in exercise of powers conferred under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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