REQUIREMENTS |
CRITERIA |
1. Incorporation |
- Issuer must be duly incorporated under the laws of Rwanda or any other recognized law.
- A government borrowing authority.
- A public authority ( e.g. local government)
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2. Identity of persons responsible for Information disclosed: Directors, Senior Management, Advisers, Auditors, and Bankers. |
- Names,
- Address (residential)
- Roles of each director and senior manager
- Declarations by directors, sponsors
- Consents by all professionals whose reports have been used in the disclosure document.
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3. Information on the issuers |
- Incorporation
- Information
- Principal activities
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4. Share Capital and Assets
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- Authorized issued and fully paid up capital of Rwf 500 million
- Net assets of Rwf 1 (one) billion
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5. Statistics on the Offer/Issue |
- Amount of debt to be issued
- Features of the bond
- Purpose of the issue and intended application of the proceeds
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6. Track record and profitability |
- Adequate track record, at least two financial years of positive profits.
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7. Transferability |
- Fully negotiable and freely transferable.
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8. Minimum size of a bond issue |
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| 9. Disclosures in the Audited Annual reports and accounts and the Information Memorandum |
- 3 years annual reports and accounts.
- Internationally acceptable accounting standards.
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10. Status of the business |
- Recent business trends, production, costs, prices etc
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11. Major shareholders and related party transactions |
- Names and amount of shares held by each
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12. Working capital |
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13. Loan subordination |
- Whether the loan is subordinated to other debts of the issuer already contracted or to be contracted
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14. Convertible debt |
- Where the debt is convertible – information concerning nature of shares offered, rate of conversion and the rights of the bond holders
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15. Taxation |
- Tax implication on income to the bondholders
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