Bermuda Stock Exchange streamlines listing process for programme securities

Expedited approval timeline

Under the revised process, approval-in-principle (or final approval, as applicable) for securities issued under a previously approved programme is now guaranteed on the next business day, with same-day approval possible, subject to prior delivery of the relevant supporting documentation. This represents a one-day reduction in the approval timeline for such securities.

New abridged forms and checklists

The BSX is also introducing abridged application forms and checklists designed to reduce the time and effort required to reference information already contained in the original approved programme documentation. The new documents should be used for all debt or ILS notes issued (or to be issued) where approval in principle has already been granted by the BSX for future issuances under a programme.

In addition, the current Debt Listing Application Form has been updated to make it specific to a new programme (and notes) or standalone notes.  All new documents will be available on the BSX website.