The two sets of bonds amounting to €2 Billion each are to be listed in London or in Frankfurt. Would a complying Prospectus under the EU Prospectus Regulation be required if the bonds are listed in London, but all bond sales were confined to large hedge funds and large institutional investors?

International financial law practice module

The Government of Thalassonia wants legal advice on the following:
.a) The two sets of bonds amounting to 2 Billion each are to be listed in London or in Frankfurt. Would a complying Prospectus under the EU Prospectus Regulation be required if the bonds are listed in London, but all bond sales were confined to large
hedge funds and large institutional investors?

b) The loan and bond obligations of the Thalassonian banks which are in difficultywill be transferred to a newly incorporated bank in Thalassonia, Novo Banco, under Banking regulation which has copied the EU’s Bank Recovery & Resolution Directive. Many of the loans are governed by German law and English law while the international bonds are governed by English law. Both Germany and the UK have conferred recognition to this legislation as equivalent to the EU Directive.

 c) If Thalassonia were to face serious financial difficulties in the near future after the issue of the bonds the Government of Thalassonia intends to enact legislation transferring its obligations under the three sets of bonds to a newly created legal entity in Thalassonia called the Thalassonian Sovereign Finance

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