Rationalisation of Debt Limits

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..... of US$ 51 billion (by merging US$ 1 billion for QFIs, US$ 25 billion for FIIs and US$ 25 billion for FIIs in long term infra bonds). b. On account of the room created by unifying the debt categories, the current SEBI auction mechanism of allocating debt limits for corporate bonds, shall be replaced by the on tap system currently in place for infrastructure bonds. 2. Accordingly, in partial modification of Para 4 of the SEBI circular CIR/IMD/FIIC/3/2013 dated February 08, 2013, the categories of Government Debt Old (US$ 10 billion) and Government Debt Long Term (US$ 15 billion) shall be merged into a single category named 'Government Debt' and the combined limit shall be US$ 25 billion, equivalent to INR 124,432 crores. 3. .....

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..... 76 368,755 5. Vide circular CIR/IMD/FIIC/12/2012 dated April 27, 2012, SEBI had indicated that the auction of debt limits would be conducted on 20th of every month (if 20th is holiday, auction shall be done on the next working day), based on availability of free limits at the end of respective previous month. In partial modification of the said circular, it has been decided that FIIs can now invest in Corporate Debt without purchasing debt limits till the overall investment reaches 90% after which the auction mechanism would be initiated for allocation of the remaining limits, as currently in place for Corporate Debt Long Term Infrastructure bonds. 6. It is clarifi .....

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..... practice of dissemination of fortnightly debt utilization status shall be discontinued. This circular shall come into effect immediately. This circular is issued in exercise of powers conferred under SEBI Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. A copy of this circular is available at the web page F.I.I. on our website www.sebi.gov.in. The custodians are requested to bring the contents of this circular to the notice of their FII clients. S Madhusudhanan Deputy General Manager +91-22-26449614 [email protected] - Circular - Trade Notice - Public Notice .....

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