Requirements for inclusion on the list of bonds
of international financial organisations
The list of international financial organisations whose securities may be admitted to public placement/circulation in Russia is approved by the Russian government.
Basic requirements
- Securities comply with the requirements of Article 51.1 of the Federal Law "On the securities market"
- A foreign issuer undertakes to provide the Exchange with information about the securities for disclosure by the Exchange in accordance with Russian securities legislation
- The securities are accepted for servicing by the settlement depositary1
- Other Russian legal requirements regarding securities and normative acts of the Bank of Russia are observed
- The issue conditions contain no limitations on circulation (placement) of securities among general public of the Russian Federation
If the IFO securities comply with the requirements of subparagraphs 1-3 of paragraph 2 of Article 20.1 of the Federal Law №39-FZ "On The Securities Market", admission to public placement may be granted by Moscow Exchange.
With the basic requirements complied, securities may be included on Level 3.
Inclusion in Levels 1 and 2
| Requirement | Level 1 | Level 2 |
|---|---|---|
| Issue volume | At least RUB 2 bln | At least RUB 500 mln |
| Par value | No more than RUB 50,000 or 1,000 currency units if the security par value is denominated in foreign currency | |
| Issuance and disclosure (publication) of consolidated financial statements according to international standards, accompanied by auditor's opinion | The issuer shall undertake obligations on disclosure (publishing) the reporting | |
| The issuer (or the bonds issue) and the surety (guarantor) have a credit rating of certain level 2 | Not lower than the level set by Moscow Exchange | |