Regulatory Alerts2021-01-01
Financial Regulatory Authority Board Resolution No. 155 of 2021
The Financial Regulatory Authority issued Board Resolution No. 155 of 2021 to amend the phased bond issuance rules under Resolution No. 54 of 2014. The revised provisions mandate a minimum thirteen-month maturity for each bond tranche and require bondholder group approval for repayment adjustments, establishing a 50% quorum for meetings (reducible to 25% in a second meeting) and a three-quarters majority for decisions. Additionally, issuers must disclose periodic credit rating certificates within seven days of issuance if a rating change occurs, utilizing designated electronic platforms or the Egyptian Exchange website as applicable.
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