303

Past version: Effective up to 18 May 2016

One of the following requirements must be met for the listing of an issue of local debt securities:—

(1) For an issuer whose equity securities are listed on the Exchange, the issue of debt securities must have a principal amount of at least $750,000.
(2) For an issuer whose equity securities are not listed on the Exchange: —
(a) The issuer must meet the Exchange's requirements in Rule 210(2), (3), (4) and (5) for listing of equity securities, and the issue of debt securities must have a principal amount of at least $750,000; or
(b) The issue of debt securities must have a principal amount of at least $750,000 and at least 80% of the issue must be subscribed by sophisticated or institutional investors; or
(c) The issuer must be the Government or a Singapore government agency; or
(d) The issue of debt securities must have a credit rating of investment grade and above.
(3) Where the requirements in Rule 303(1) or (2) are not met, the issuer's obligations under the issue of the debt securities must be:—
(a) guaranteed by an entity that is listed on the Exchange and the issue of debt securities must have a principal amount of at least $750,000; or
(b) guaranteed by an entity which meets the requirement in Rule 210(2), (3), (4) and (5) and the issue of debt securities must have a principal amount of at least $750,000; or
(c) guaranteed by the Government or a Singapore government agency.