The offering was conducted pursuant to Rule 144A
and Regulation S under the Securities Act of 1933, as amended (the Securities Act).
was adopted in 1990 by the SEC to attract foreign issuers to U.
Russian telecomms company VimpelCom is reportedly to issue USD300m worth of five-year bonds to price by 9 February 2005, with UBS and JP Morgan managing the Rule 144a
In a Rule 144A
offering, an investment bank or syndicate of investment banks purchases the securities from the company and then resells the securities to investors at a higher price.
The Discount Notes were offered only to qualified institutional buyers, as defined in Rule 144A
under the amended Securities Act of 1933, and certain investors outside of the United States under Regulation S under the Securities Act.
Securities issued under Rule 144A
do not have to file a public registration statement with the Securities and Exchange Commission, but can be sold only to qualified financial institutions.
Finally, the study analyzes some recent occurrences affecting the market, including a credit crunch in the below-investment-grade segment, the adoption of Rule 144A
by the Securities and Exchange Commission, and the changing role of commercial banks.
But the ultimate impact of Rule 144A
on private placement issuers is unclear as yet.
The SEC recently adopted long-awaited Rule 144A
, which establishes new requirements covering the purchase and resale of so-called restricted securities.
today announced that it has launched Best Markets[TM] in the United States -- a new private placement platform for common equity offerings by private companies under Rule 144A
of the US Securities Act.
has replaced The Bank of New York Mellon as depositary for the Company's Rule 144A
and Level I American Depositary Receipt ("ADR") programs, effective as of April 19, 2017.
The notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and are being offered only to qualified institutional buyers in reliance on Rule 144A
under the Securities Act and outside the United States in accordance with Regulation S under the Securities Act.