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LR 3.4 Debt and other securities

Application - debt securities etc1

LR 3.4.1R

Application - issuance programmes1

LR 3.4.2R

LR 3.4.7 R1 to LR 3.4.8 R apply to an applicant for the admission of a debt securities or asset-backed securities issuance programme.1

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Application - public sector issuers1

LR 3.4.3R

1Documents1 to be provided 48 hours in advance

LR 3.4.4R

An applicant must submit, in final form, to the FCA by midday two business days before the FCA is to consider the application:

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  1. (1)

    a completed Application for Admission of Securities to the Official List;

  2. (2)

    either:

    1. (a)

      the prospectus, or listing particulars that has been approved by the FCA; or

    2. (b)

      a copy of the prospectus, a certificate of approval and (if applicable) a translation of the summary of the prospectus, if another EEA State is the home Member State for the securities;

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  3. (3)

    any approved supplementary prospectus or approved supplementary listing particulars, if applicable; and1

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  4. (4)

    written confirmation of the number of securities to be issued (pursuant to a board resolution). [Note: if this is not possible, see LR 3.4.5 R]1

Note: The Application for Admission of Securities to the Official List form can be found on the UKLA section of the FCA's website.

1Documents to be provided on the day of admission1

LR 3.4.5R
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1If confirmation of the number of securities to be issued pursuant to a board resolution cannot be submitted to the FCA by the deadline set out in LR 3.4.4 R or, the number of securities to be admitted is lower than the number notified under LR 3.4.4 R, written confirmation of the number of securities to be issued or admitted must be provided to the FCA by the applicant at least one hour before the admission to listing is to become effective.

1Documents to be kept1

LR 3.4.6R

An applicant must keep, for six years after the admission to listing, a copy of the items set out in LR 3.3.6 R (1) to (6) and LR 3.3.6 R (9) 1and must provide any of those documents to the FCA if requested to do so.

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Procedure for issuance programmes: initial offering and increase to programme size1

LR 3.4.7R

An applicant must comply with LR 3.4.4 R to LR 3.4.6 R with the following modifications:

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  1. (1)

    [deleted]1

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  2. (2)

    if the FCA approves the application it will admit to listing all debt securities which may be issued under the programme within 12 months after the publication of the base prospectus or listing particulars subject to the FCA:

    1. (a)

      being advised of the final terms of each issue for which a listing is sought; and1

    2. (b)

      receiving and approving for publication any supplementary documents that may be appropriate.1

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    3. (c)

      [deleted]1

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  3. (3)

    an applicant must submit a supplementary prospectus or supplementary listing particulars instead of the document required by LR 3.4.4 R (2) in the case of an increase in the maximum amount of debt securities which may be in issue and listed at any one time under an issuance programme.1

LR 3.4.7AG

1An applicant for the admission of securities under an issuance programme must confirm in its Application for Admission of Securities to the Official List that at admission all of the securities the subject of the application will be in issue pursuant to board resolutions authorising the issue.

Issuance programmes: final terms

LR 3.4.8R
  1. (1)

    The final terms must be submitted in writing to the FCA as soon as possible after they have been agreed and no later than 2 p.m. on the day before listing is to become effective.

  2. (2)

    The final terms may be submitted by:

    1. (a)

      the applicant; or

    2. (b)

      a duly authorised officer of the applicant.1

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  3. (3)

    [deleted]1

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Note: For further details on final terms, see PR 2.2.9 R.

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1Exempt public1 sector issuers

LR 3.4.9R

A public sector issuer that seeks admission of debt securities referred to in paragraphs 2 and 4 of Schedule 11A of the Act must submit to the FCA in final form a completed Application for Admission of Securities to the Official List.

Note: The Application for Admission of Securities to the Official List form can be found on the UKLA section of the FCA's website.

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LR 3.4.9AG

1An application referred to in LR 3.4.9 R should be made in accordance with the timetable referred to in LR 3.4.8 R.

LR 3.4.9BG

1A public sector issuer that is not required to produce a prospectus or listing particulars must confirm on its application form that no prospectus or listing particulars are required.

LR 3.4.9CG

Apart from LR 3.4.9 R, LR 3.4.9A G and LR 3.4.9B G no other provisions in LR 3.4 apply to the admission of debt securities referred to in paragraphs 2 and 4 of Schedule 11A of the Act.

Other public sector issuers1

LR 3.4.10R

LR 3.4.7 R, LR 3.4.8 R and 1LR 3.4.11 R to LR 3.4.13 R apply to applications for admission to listing of debt securities by a public sector issuer other than one referred to in LR 3.4.9 R.

LR 3.4.11R

An applicant referred to in LR 3.4.10 R must submit the items set out in LR 3.4.4 R 1to the FCA in final form by midday two business days before the FCA is to consider the application.1

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LR 3.4.12R

[deleted]1

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LR 3.4.13R

An applicant referred to in LR 3.4.10 R must keep, for six years after the admission to listing, a copy of the items set out in LR 3.3.6 R (1) to LR 3.3.6 R (6) and in LR 3.3.6 R (9)1.

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