Listing of debt securities in Luxembourg
30 January 2023
The document below has been drafted with the purpose of providing a comprehensive overview for issuers of debt securities who would like to obtain an admission to trading of their securities on one of the markets operated by the Luxembourg Stock Exchange.
It consists of three main chapters which deal with the most important aspects both in terms of listing and ongoing disclosure obligations and provide many useful insights.
Chapter 1 - Listing options covered by the Luxembourg Stock Exchange
This chapter provides an extensive overview with respect to all current listing possibilities the Luxembourg Stock Exchange offers. In this respect, it contains detailed information on the requirements which need to be complied with in order to achieve such listings and provides a summary of the listing costs the particular listings will trigger.
Chapter 2 – Treatment of Regulation Information under the Luxembourg Transparency Law / FIRST / FNS / e-RIIS
This chapter deals with the obligations issuers of securities who have obtained a listing on the regulated market of the Luxembourg Stock Exchange must comply with if they fall under the scope of the Luxembourg Transparency Law. In this respect, we primarily focus on the various technical aspects which the disclosure of regulated information under Luxembourg law entails.
Chapter 3 – Disclosure obligations under the Rules and Regulations of the Luxembourg Stock Exchange and the Market Abuse Regulation
The final chapter provides a detailed description of the disclosure obligations set out in the Rules and Regulations of the Luxembourg Stock Exchange. These additional disclosure rules also apply to issuers whose securities have been admitted to trading on the Luxembourg Stock Exchange and thus need to be taken into account in addition to the disclosure rules under the Luxembourg Transparency Law.
The brochure should provide useful information required in respect to debt securities. However, please reach out with any questions or if you would like to discuss any area in more detail.
Authors: Isabelle Lentz, Partner; Fabien Debroise, Partner; Katia Fettes, Counsel; Markus Waitschies, Senior Expertise Lawyer
