Regulatory Alerts2020-07-22
Guidelines on Trust Deeds
The Securities Commission Malaysia issued these Guidelines to establish minimum provisions, covenants, and requirements for trust deeds governing corporate bonds and sukuk. The document mandates specific disclosures regarding bond features, interest rates, taxation, and default events, while strictly prohibiting materiality thresholds for payment defaults. It further outlines mandatory positive and negative covenants for issuers, defines trustee powers and duties, and provides exemptions for regulatory capital instruments and special purpose vehicles.
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