Issuers await clarity on Prospectus Directive implementation

04 Feb 2005

The EU Prospectus Directive, due to be implemented across Europe by July 1, will require borrowers to submit new, directive-compliant prospectuses for debt issuance programmes to their host countries' listing authorities. EuroWeek assesses the impact on MTN borrowers and the efforts being made by the Luxembourg Stock Exchange and the UK Listing Authority ? on which most of Europe's MTN programmes are listed ? to ease the burden on Europe's financial markets.

The goal of the EU Prospectus Directive is to make it easier and cheaper for companies to raise capital throughout the EU, while at the same time reinforcing protection for investors.

As such, it is generally seen as helpful by issuers and bankers. ?In theory ...

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