1. Appoint a Listing Sponsor to liaise with the BSX. Direct submission is possible by an experienced listing services provider if agreed in advance with the BSX.  

2. Meet the conditions and disclosure requirements. The Listing Sponsor will check the application against the conditions for listing and disclosure requirements as outlined in the Debt Listing Regulations.

3. Submit the Listing Application – a draft for approval in principle or final submission (comprised of the Debt Listing Application Form and other documents) depending on the stage of the transaction.

4. Feedback – on first submission the Listing team will provide comments within 3 business days. On subsequent submissions comments will be provided within 2 business days.

5. Approval – once comments are sufficiently addressed, the Listing team makes a recommendation to the Listing Committee. Following this submission, the timeline for approval in principle or final listing is:

  a. For new programmes or standalone notes - 7 business days. 
  b. On subsequent notes from an approved programme – 3 business day.

6. Approval in principle process – the BSX provides an approval in principle option with draft documents enabling an issuer to give potential investors certainty that the securities will be listed assuming conditions are met.

7. Admission to listing – securities are admitted for listing from a mutually agreed date. With approval in principle, admission to listing can be on the same day as the transaction closes assuming final executed forms and documentation are received.

For more information see the Guidelines to the Debt Listing Regulations.
 

For approval in principle: 
Documents may be in draft. For more information see the Debt Listing Regulations and the Guidelines to the Debt Listing Regulations:

• Debt Listing Application Form
• Listing Document (e.g. offering circular and BSX wrapper* (if applicable) )
• Financial information (if applicable)
• Completed Listing Application Checklist
• Certified documents to identify the legal entity, beneficial owners and directors (for AML and CTF purposes)

For final approval:

• Executed Debt Listing Application Form
• Listing Document e.g. offering circular and BSX wrapper (if applicable)
• Financial information (if applicable)
• Completed Listing Application Checklist
• Certified documents to identify the legal entity, beneficial owners and directors (for AML and CTF purposes)
• Certified or executed copy of Board resolution (if not in the listing document)
• Executed material contracts (if not summarised in the listing document)
• Document(s) of title relevant to issue
• Director’s Declarations (only if open to the public)

All fees quoted in US$

5% discount option for upfront payment to maturity date*

*For more information see Listing Fee Schedule

Notifications to the BSX only:

• Notification of changes to the issuer such as beneficial ownership or Directors
• Notification of government sanctions or formal legal or regulatory proceedings

Notifications also requiring an issuer announcement:

• Changes to the terms and conditions of the notes
• Redemptions, cancellations and extensions of debt securities
• Change in issuer name or an additional issuer
• Preparation and distribution of audited financial statements (some exemptions apply)

For more information, see Debt Listing Regulations.