Summary of Amendments to the Revised Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors

Page 1 of 2 Summary of Amendments to the Revised Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors (Date of Issuance: 8 November 2017) The following table provides a summary of amendments made to the revised Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors issued on 8 November 2017: A. General amendments made throughout the Guidelines:

1. Substitution of the term “private debt securities (PDS)” with the term “corporate bond/corporate bonds”, where applicable, throughout the entire Guidelines in line with Technical Note No.1/2016 on Change of Terminology from “private debt securities” to “corporate bonds ” issued on 21 July 2016.
2. Renumbering of current pages consequence of the introduction of the new chapter on ASEAN Green Bonds and sukuk. B. Specific amendments No. Reference in the Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors Comments Prior to 8 November 2017 Revised version dated 8 November 2017 1 Paragraph 2.01 –Definitions Paragraph 2.01 –Definitions • Insertion of new definitions for the following terms:  ASEAN Green Bonds or Sukuk;  ASEAN Green Bond Standards

• Part F: Requirements For An Issuance Of ASEAN Green Bonds and Sukuk Chapter 21 ASEAN Green Bonds and Sukuk Insertion of new chapter on requirements for issuance of ASEAN Green Bonds and sukuk

Page 2 of 2 B. Specific amendments No. Reference in the Guidelines on Issuance of Corporate Bonds and Sukuk to Retail Investors Comments Prior to 8 November 2017 Revised version dated 8 November 2017 3 - Paragraph 21.01, Chapter 21, Part F This new paragraph clarifies that this chapter sets out the additional requirements for an issuance of ASEAN Green Bonds or Sukuk to retail. 4 - Paragraph 21.02, Chapter 21, Part F This is a new requirement which provides that for an issuance of ASEAN Green Bonds and Sukuk, the issuers must adopt the ASEAN Green Bond Standards. 5 - Paragraph 21.03, Chapter 21, Part F This is a new requirement which provides that an issuer must not- (a) use or adopt the term “ASEAN Green” in relation to the name of its corporate bonds or sukuk; or (b) hold itself out as an issuer of “ASEAN Green” corporate bonds or sukuk, unless the issuance has complied with this chapter 6 - Appendix 1, Part 1 – Information and documents to be submitted to the SC for SC’s Approval This is a new requirement which provides for compliance checklist with ASEAN Green Bond Standards to be submitted together with other required information and documents. This is to facilitate SC’s review of the corporate bonds and sukuk using this label as to whether they are true to label.