Regulatory Alerts2017-04-01
Added · Updated
Capital Market Regulation No. 13 for Issuance of Regional Fixed Income Securities
The Capital Market Authority of Rwanda issued Regulation No. 13 to establish the legal framework for the issuance of regional fixed income securities across East Africa. The regulation mandates that issuers meet specific eligibility criteria, including minimum paid-up capital of USD 850,000, net assets of USD 1,700,000, and profitability in at least two of the previous three years. It further requires issuers to maintain valid credit ratings, provide detailed financial disclosures and cash flow projections, and obtain approval from primary regulators while sharing evaluation fees with other participating jurisdictions.
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