Here at ISIN we assist with bond offerings on a global scale. The issuance of debt securities worldwide over the last decade has increased exponentially. Many companies have decided to issue debt instead of having to give away additional equity share/stock ownership in the company. Whether you are seeking to issue notes or convertible bonds ISIN.com’s staff can assist.
144A Bonds and Notes
One of the most common methods to raise debt capital is via a 144A bond, which is a fancy way of saying your company is raising debt from US investors only. A 144A offering is normally used – the rules of 144A that is – to raise capital in the most expedited, judiciously method for a company. A 144A private placement memorandum would be needed and most likely an ISIN code or CUSIP number as well.
Reg S Notes and Bonds
Reg S, or Regulation S is the compliment to a 144A offering. In a Reg S offering investment capital is only obtained from outside the United States, to non US citizens. Many times a company will issue debt under Rule 144A and Regulation S at the same time (“144a/Regs”), and it’s not uncommon to see RegS deals raising into the billions of dollars. Often governments issue sovereign debt and it’s normally under the Reg S banner. ISIN codes and CUSIP numbers are also common for Reg S offerings and used in the clearing and settling trades and transactions. For instance companies that seek to use a local or central depository or a common depository (CDS) may decide to clear and settle the transactions with Euroclear or Clearstream in Europe or the DTCC (Depository Trust Corporation) in the United States. Private placements of notes and bonds under Reg S can also obtain ISIN codes but a depository may not be needed.
ISIN and CUSIP and Other Securities Identifiers
Those companies who issue either 144A, Regulation or a mixture of 144A/Reg S normally obtain ISIN codes for identification purposes. This is also true for the CUSIP numbers. In a 144a-Reg S offering two ISINs and two CUSIPs would be assigned, one to each rule.
Out staff at ISIN can assist with your Regulation S (Reg S) offering. Whether you are undertaking a listing or IPO under Reg s, or issuing private stock or debt in a private placement, ISIN.com can assist from the very beginning of document preparation all the way to the ISIN, CUSIP or other identifiers.