The process of issuing debt securities in Serbia simplified

The Government of the Republic of Serbia adopted on Friday, April 10, 2020 the Regulation on the Procedure for Issuing Debt Securities. It was published on the same day in the Official Gazette of the Republic of Serbia, No 54/2020 and came into force immediately. The Regulation lays down a simplified procedure for issuing corporate debt securities in the Republic of Serbia.

It will apply in all cases where a company has made a decision to issue debt securities during the state of emergency declared in the Republic of Serbia because of the risk of spreading the infectious disease COVID-19, that is in the period of 180 days following the termination of the state of emergency in the Republic of Serbia.

The Regulation simplifies the procedure for issuing debt securities in Serbia and the approval process before the Commission for prospectuses for issues of corporate debt securities. A prospectus relating to debt securities issued by companies is drawn up as a single prospectus. Its form and the minimum information to be included in prospectus will be regulated by the Securities Commission. It is not a requirement for such prospectuses to include a summary.

The information about the issuer, information regarding financial and audit reports of the issuer may be incorporated in the prospectus by reference, provided that the information is made available in public registers and/or on the issuer’s website.

The text of the Regulation in Serbian: