Regulatory Alerts2020-07-01
Guidelines for the Issuance of Corporate Bonds, Municipal Bonds and Commercial Papers
The Capital Markets and Securities Authority of Tanzania establishes comprehensive regulatory requirements for corporate, municipal, and commercial paper issuances to streamline capital market operations. Issuers must satisfy specific solvency and leverage thresholds, including a minimum TZS 500 million paid-up capital and a maximum 400% gearing ratio, while providing audited financial reports and approved prospectuses. The framework mandates designated advisers, clear fee structures, and special purpose vehicle provisions for local governments, ensuring transparency and alignment with East African Community regional bond standards.
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