The Central Bank has prepared measures to protect the rights of bondholders – Kommersant
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The Central Bank has prepared measures to protect the rights of bondholders, the regulator said “RBC Investments”. In particular, it is planned to introduce “floating” quorum thresholds for decisions on restructuring, as well as to improve the institution of a representative of bondholders.
As the Central Bank explained, it is planned to create additional protective mechanisms for bondholders during debt restructuring. “We propose ”floating” thresholds for making a decision on restructuring – the worse the conditions, the more bondholders must vote for them,” the Bank of Russia said.
At the same time, it is planned to clarify the list of persons who will not be able to vote at the general meeting of bondholders. The changes to the institution of the representative of bondholders in the Central Bank were explained by the fact that his duties should be enshrined in law.
“It is necessary to establish legislatively the principles of financial support for the activities of a representative that do not allow the issuer of bonds to influence the receipt of funds due to him,” the Central Bank emphasized.
IN project main directions for the development of the financial market until 2026, the Central Bank indicated that expanding opportunities for bond issuers to quickly complete transactions is necessary “for the development of the debt financing market.” At the same time, the regulator announced plans to improve the mechanism for protecting the rights of bondholders.
About the situation on the bond market – in the material “Kommersant” “Companies borrow at a floating interest rate”.
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