On the 16th of May the European Council has adopted the new Prospectus Regulation. This will bring many changes and some improvements to the prospectus regime.
eppf has teamed up with its legal counsel and capital markets specialists Kerman & Co and has prepared a unique unofficial comparison* between the new regulation and the current prospectus directive and prospectus regulation.
This comparison will show you the textual and also contextual changes that are to come and which will enter into force gradually over the next 12 to 24 months.
Existing debt issuance programmes will need to be updated in a major effort to reflect the new prospectus regulation. Issuers that want to avoid the hassle of continuous updates of issuance documentation have the possibility to use eppf's market standard documentation.
The pay-as-you-print model without any large ongoing costs provides issuers with an alternative to costly own documentation and finance subsidiaries.
We hope that our mark-up will make your life as capital markets experts easier, reflecting eppf's mission. Watch out for further updates and exciting developments or reach out directly to eppf or Kerman & Co.
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This unofficial comparison between (a) the proposed New Prospectus Regulation and (b) the Prospectus Directive, as amended, and Prospectus Regulation, as amended, has been prepared as a reference tool to illustrate the proposed changes to the existing regulatory requirements relating to prospectuses. It is not a formal or official draft and should not be relied upon or taken as representing legal advice. Whilst every attempt has been made to ensure the accuracy of the text, no responsibility is taken for its content and readers should also refer to the official legal texts.
The directors of european private placement facility (eppf) are pleased to announce the launch of a new truly pan-European, standardised and neutral private placement facility for debt issuance. The eppf provides investors access to capital market indebtedness of corporates, municipal and regional authorities as well as agencies and other sub-sovereigns and sovereigns ("Borrowers") intermediated by experienced banks in a cost efficient, standardised and regulated environment based on known practices and with a strong built-in quality control.
Over the past months we have been working intensively on creating this completely new industry utility. We have partnered with many of the most eminent international investment banks and industry players, have gone through a detailed regulatory approval process, have developed a new standardised ground-breaking documentation, issuance processes and quality assurance mechanisms. We have received incredibly valuable input from all possible market areas, such as investors, issuers, the public sector, rating agencies and many more.
Today, we are excited to announce that we have reached another very important milestone on our journey. We are now officially authorised and regulated by the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) as the first of its kind under this umbrella. This is the first step of many to come.
Today's announcement not only means that we can show our unconditional commitment to quality but also that we are in the business of trust. We are now officially operative and are working together with our partner banks to become the first market-driven, practical implementation of the Capital Markets Union,
If you are an issuer or a bank interested in learning more, please do contact us to see whether your bank is a member of the primary dealer bank panel of eppf or if we can refer you to the member banks. Please also do not hesitate to contact us to learn more if you are an investor or public sector entity.
We are very much looking forward to working with you as a part of the next generation financial infrastructure.