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  • OFS-5.6 OFS-5.6 Additional and Specific Content for Special Purpose Vehicles (SPV)

    • OFS-5.6.1

      In respect of a Special Purpose Vehicle (SPV) created for the purpose of issuing debt securities, the appointed advisor, or issuer, or other sponsor for the issue, must disclose to the CBB all relevant facts and information relating to the legal, commercial and economic structure associated with the issue.

      January 2014

    • OFS-5.6.2

      The Memorandum and Articles of Association, or copy of such document of the SPV as an issuer, must be submitted to the CBB along with the offering application and must be made available for inspection to the subscriber.

      January 2014

    • OFS-5.6.3

      SPVs are responsible to meet all ongoing obligations related to the securities issued.

      January 2014

    • Additional Issue

      • OFS-5.6.4

        In the case of an issuer wishing to issue more debt securities which are:

        (a) Backed by the same assets;
        (b) Not freely exchangeable with existing classes of debt securities; or
        (c) Not subordinated to existing classes of debt securities;

        then the issuer must inform the debt security holders of the existing classes.

        January 2014