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TMI BlogAmendments to SEBI (Disclosure and Investor Protection) Guidelines, 2000X X X X Extracts X X X X X X X X Extracts X X X X ..... y market for corporate bonds in India, it has been decided to amend certain provisions of the SEBI (Disclosure and Investor Protection) Guidelines, 2000. Accordingly, in exercise of the powers conferred under sub-section (1) of Section 11 of the Securities and Exchange Board of India Act, 1992, the SEBI (Disclosure and Investor Protection) Guidelines, 2000 have been amended. II. The full text of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent grade debt instrument. Given this, and in order to develop market for debt instruments, it has been decided to allow issuance of bonds which are below investment grade to the public to suit the risk/return appetite of investors. 3. Removal of Structural Restrictions: Further, in order to afford issuers with desired flexibility in structuring of instruments to suit their requirements, it has b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are advised to bring to the notice of all the listed companies, the amendments to norms on rating and removal of structural restrictions on debt instruments. Yours faithfully, Parag Basu Annexure I CHAPTER II ELIGIBILITY NORMS FOR COMPANIES ISSUING SECURITIES 1. In clause 2.5.1A, for sub-clause (i), the following sub-clause shall be substituted, namely:- "(i) credit rating is obtained from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... instruments (whether convertible or not), unless credit rating is obtained from at least one credit rating agency registered with the Board and disclosed in the offer document." 5. For clause 10.1.3, the following clause shall be substituted, namely:- "10.1.3 Where ratings are obtained from more than one credit rating agencies, all the ratings, including the unaccepted ratings, shall be disclos ..... X X X X Extracts X X X X X X X X Extracts X X X X
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