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.