January 2017

Baltic Region Lending Firm Capitalia Issues New Secured Bonds

Non-bank Financing Firm Capitalia, ISIN LV0000801488 Issues New Secured Bonds Riga, 2016-11-08 10:16 CET (GLOBE NEWSWIRE) – Capitalia, the non-bank financing platform aimed at small businesses in Eastern Europe countries Latvia, Lithuania and Estonia, has made decision to start new secured bond emission with the subscription period until November 30, 2016. The closed bond emission [...]

US Regulator Probes Banks’ USD 850m Mozambique Tuna Bond Issuance Ahead of Restructuring

SEC Investigates Banks’ 2013 Sale of USD 850mil Mozambique Tuna Bond Offering as Country Attempts to Re-Structure Soured Debt Placement Issuance intended for country’s tuna fishing industry, but used to buy military equipment instead (WSJ) 28 December The U.S. Securities and Exchange Commission is investigating the sale of $850 million in bonds issued by Mozambique, the latest development in a scandal that is exposing the links between the country, three international banks and a defense contractor. The move by the SEC inserts the U.S. into a widening global investigation of Mozambique’s debt deals, which involved undisclosed loans and military purchases facilitated by the banks. The ISIN code for the now-challenged 2013 sovereign debt issuance underwritten by Credit Suisse Group, BNP Paribas and Russian bank VTG Group is XS09693514503. The proposed new sovereign debt issuance is a dual tranche undertaking and includes ISIN XS1391003446 for the Unrestricted Global Note and ISIN XS1391003529 for the Restricted Global Note transaction. The offering document for the proposed restructuring transaction is available via this link In 2015, global news media reported that the proceeds of the issue of the Existing Notes had been used in part to purchase defense equipment, rather than exclusively to purchase tuna fishing vessels and infrastructure operated by the state-owned corporation Empresa Moçambicana de Atum S.A. (“EMATUM”), which engages in commercial tuna fishing, as had previously been widely reported. According to the restructured note offering, to date, EMATUM has taken delivery of 24 tuna boats and will shortly take delivery of three trimarans to support its fleet. Subsequent press reports have also called into question whether all of the proceeds of the issuance of the Existing Notes were used for authorized or appropriate purposes. Per the disclaimers within the new offering prospectus, EMATUM has experienced net losses in recent periods and therefore the Existing Notes Issuer may not be able to service the Existing Notes in current or future periods. ISIN.com is a leading provider of international securities identification number aka ISIN code assistance. From ISINs to CUSIP to SEDOLs and other reference data securities numbers, the ISIN.com team works discretely with sovereign governments and government agencies, corporate issuers and private entities in the course of offering memorandum writing, fund and company setup and ensuring Issuers conform to respective regulatory regime guidelines. Contact ISIN.com today to schedule a free consultation   In 2013, when the above-noted underwriters sold the bonds to investors for the Mozambican state-owned company, the prospectus for the issuance indicated EMATUM needed money for tuna fishing. But months later, Mozambique’s government announced that the funds had also been used to buy military equipment. Bondholders were also unaware that Credit Suisse and VTB made $1.2 billion in undisclosed bank loans to other state-owned companies for additional military purchases until The Wall Street Journal reported on the deals in April 2016. Mozambican President Filipe Nyusi recently agreed to an international audit of the deals by investigations firm Kroll, in an effort to regain access to frozen international aid. A report of the audit is expected in February, a person familiar with the matter said. Mozambique used proceeds from the bonds and loans to purchase military and maritime goods and services from firms owned by holding company Privinvest, such as French defense contractor Constructions Mécaniques de Normandie. Privinvest is owned by Lebanese businessman Iskandar Safa. At the time of the deal, Mozambique’s ruling party was in heightened conflict with opposition forces. To read the full story from the WSJ, please click here […]

Cayman Islands RFI and NRFI New Rules and Regs 2017: ISIN Update

1 January 2017-Hedge Funds domiciled in the Cayman Islands, inclusive of Cayman Islands RFI and Non-Reporting Financial Institutions (NFRI) are subject to updated rules and reporting requirements, including those that may or may not have obtained ISIN codes for respective private placement issuances.  Below summary from international law firm Maples and Calder is provided as [...]

September 2016

Newell Brands Exchange Offer: ISIN XS1389996882 and..

ATLANTA--(BUSINESS WIRE)--Newell Brands (NYSE: NWL) today announced that it has commenced offers to exchange the following senior notes first issued in a private placement 20 April 2016. (the “Exchange Offers”) up to: €271,851,000 aggregate principal amount of its 3¾% Senior Notes due 2021 (ISIN XS1389996882) (the “Exchange Euro Notes”), which have been registered under the [...]

Banks Looking To Blockchain Tools for Reference Data: Pain Trade

What's Next? Banks Explore Use of Blockchain Tools For Reference Data Management; ISIN, CUSIP, SEDOL.. (WSJ) 20 September--Some big banks are applying a bitcoin-style system to another technology pain point, the reference data identification tags attached to things they trade. Reference data includes securities identification numbers, including ubiquitous ISIN (International Securities Identification Number), CUSIP, SEDOL [...]

Reference Data Update:The Evolution of LEI Codes

Panama Papers 'scandal' underscored the need for securing LEI codes for your financial service enterprise; LEI is a global regulatory issue, not merely a vanity tag. The universe of securities reference data code types across the global financial industry ecosystem seems to keep growing. Leading the pack are necessarily the ubiquitous and most commonly referenced [...]

July 2016

Azerbaijan Govt Defeats Effort to Inflate Interest Rates

27 July 2016 Baku, Fineko/abc.az. The Ministry of Finance of Azerbaijan, pursuing the policy of free pricing, has successfully defeated an attempt to inflate the rates on state short-term bonds (T-bills) up to 20%. The Baku Stock Exchange announced that the Finance Ministry sold manat-denominated T-bills with ISIN-code AZ0102005516. They were offered in the volume [...]

EC Adopts ISIN Codes Under MiFID II

(Waters Technology |InsideReferenceData.com) 20 July 2016-The European Commission (EC) has adopted several technical standards of the Markets in Financial Instruments Directive (MiFID II), including RTS 23 (Regulatory Technical Standard), which deals with standards and formats for financial instrument reference data. The initial version of the standards mandated the International Securities Identification Number (ISIN) for reporting under [...]

Lithium Energy Powers Up With ISIN code

HONG KONG, July 1, 2016 /PRNewswire/ -- Henry Chan, CEO and President of Lithium Energy (HK) Technology Ltd (LiET), announced today that LiET has submitted an application for an International Securities Identification Number (ISIN) to provide shareholders with the ability to monitor the shares that they own in the company. The ISIN is the universally recognized [...]

June 2016

BREXIT Vote Drives Record Trade Volume for FinTech Group

Frankfurt am Main - In addition to sharp market fluctuations, the surprising outcome of the Brexit Referendum on Friday also led to record trading volumes. The online broker flatex, a member company of the FinTech Group AG (WKN 524 960, ISIN: DE0005249601, abb.: FLA.GR), executed about 80,000 trades on Friday on their perfectly performing IT [...]

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