The main quotation requirements are as follows:
- The aggregate face value for the securities must be at least $10 million.
- The company will need to provide to ASX the offering documents (Prospectus, Information Memorandum and associated documents) that set out the terms of the debt securities. There may be a trust deed in respect of the securities, in which case it would need to be supplied to ASX. In wholesale issues this would typically take the form of a deed poll. The Registry and Dealers agreements will also need to be provided.
- Any CHESS requirements relating to the company’s securities must be satisfied. In the case of wholesale debt issues, ASX regards settlement via the Austraclear system as an acceptable alternative.
- A timetable relating to interest rate payments applies. This is normally addressed by the drafting process for the constitutive documents. For example, books closing dates (Record Dates) are usually at the close of business, 8 calendar days prior to the Interest Payment Dates.
- If a Record Date falls on a non-business day as determined by ASX, the Record Date will be taken to be the preceding business day.
The on-going requirements include the following:
- Listed companies are under a continuous disclosure obligation in respect of quoted securities.
- Each year a company must provide a copy of audited annual accounts. The timeframe depends on whether the company is incorporated locally or overseas.
- Companies will need to provide a fresh copy of the document that sets out the terms of the debt securities if they amend it.
While the main requirements have been summarised above, you can discuss details applicable to a particular issuer by calling ASX Issuers on (+61 2) 9227 0133.
- For a complete list of all matter required for Quotation, please refer to the ASX Listing Rules – Chapter 2
- Simple Guide to Listing Debt on ASX (PDF 65KB)