|
|
Article: Multi-Issuance Structures In The Cayman Islands A Comparison Of The Different Approaches.
- Article from:
- Mondaq Business Briefing
- Article date:
- May 28, 2008
CopyrightCOPYRIGHT 2008 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
INTRODUCTION
This memorandum examines the options available to the capital markets practitioner seeking to set up a multi-issuance structure in the Cayman Islands. There are several different types of transactions that would call for a multi-issuance structure, the most common of which would be a bond or loan "repackaging" transaction. This involves a Cayman Islands exempted company (the "Company" or the "Issuer") issuing notes, usually by way of private placement, and using the sale proceeds to acquire pre-existing Bonds or other financial instruments, and often the Company would enter into a swap as well. The purpose of a repackaging is to enable an ...