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UKLR 20.5 Debt and other securities

Application – debt securities etc

29/07/2024R

UKLR 20.5.4R to UKLR 20.5.7R apply to an applicant that is seeking admission of any of the following types of securities:

  1. (1)

    debt securities;

  2. (2)

    asset backed securities;

  3. (3)

    certificates representing certain securities;

  4. (4)

    convertible securities;

  5. (5)

    miscellaneous securities;

  6. (6)

    preference shares that are specialist securities; and

  7. (7)

    securitised derivatives.

Application – issuance programmes

29/07/2024R

UKLR 20.5.10R to UKLR 20.5.12R apply to an applicant for the admission of an issuance programme in respect of any of the following types of securities:

  1. (1)

    debt securities;

  2. (2)

    asset backed securities;

  3. (3)

    miscellaneous securities;

  4. (4)

    securitised derivatives; and

  5. (5)

    certificates representing certain securities.

Application – public sector issuers

19/01/2026R

UKLR 20.5.13R to UKLR 20.5.18R apply to an applicant that is a public sector issuer.

19/01/2026R

An applicant must submit, in final form, to the FCA by midday 2 business days before the FCA is to consider the application:

  1. (1)

     a completed Application for Admission of Securities to the Official List;

  2. (2)

     the prospectus that has been approved by the FCA;

  3. (3)

     any approved supplementary prospectus, if applicable; and

  4. (4)

     [deleted]

  5. (5)

     written confirmation of:

    1. (a)

      1. (i)

         the contact details of at least 2 of its executive directors (or, where the issuer has no executive directors, at least 2 of its directors); or

      2. (ii)

         where the issuer has only 1 executive director or has only 1 director, the contact details of that director,

      as required under UKLR 1.3.5R; and

    2. (b)

       the contact details of a nominated person at the issuer as required under UKLR 1.3.7R and UKLR 1.3.8R.

[Note: The Application for Admission of Securities to the Official List form can be found on the Primary Markets section of the FCA’s website.]

Documents to be provided: supplementary obligation for certificates representing certain securities

29/07/2024R

An applicant for admission of certificates representing certain securities must submit a letter to the FCA setting out how it satisfies the requirements in UKLR 3 (Requirements for listing: all securities) and UKLR 15.2 (Requirements for listing) no later than when the first draft of a prospectus for the certificates is submitted or, if the FCA is not approving a prospectus, at a time agreed with the FCA.

Procedure for issuance programmes: initial offering and increase to programme size

19/01/2026R

An applicant must comply with UKLR 20.5.4R and UKLR 20.5.6R with the following modifications:

  1. (1)

     if the FCA approves the application, it will admit to listing all securities in a class of securities which may be issued under the programme within 12 months after the publication of the base prospectus, subject to the FCA:

    1. (a)

       being advised of the final terms of the class of securities for which admission to listing is sought; and

    2. (b)

       receiving and approving for publication any supplementary documents that may be appropriate; and

  2. (2)

     an applicant must submit a supplementary prospectus instead of the document required by UKLR 20.5.4R(2) in the case of an increase in the maximum amount of securities which may be in issue and listed at any one time under an issuance programme.

19/01/2026G

When further securities which are in the same class as securities which are listed are issued, an issuer may be required under PRM 2.3.9R(2) to file the final terms in respect of those securities with the FCA.

Issuance programmes: final terms

19/01/2026R

  1. (1)

    The final terms must be submitted in writing to the FCA as soon as possible after they have been agreed and no later than 2pm on the day before listing is to become effective.

  2. (2)

    The final terms may be submitted by:

    1. (a)

      the applicant; or

    2. (b)

      a duly authorised officer of the applicant.

    [Note: For further details on final terms, see PRM 2.3.7R to PRM 2.3.10R.]

Exempt public sector issuers

19/01/2026R

An issuer that seeks admission of debt securities referred to in PRM 1.3.1R(2), PRM 1.3.1R(3) and PRM 1.3.1R(4) must submit to the FCA in final form a completed Application for Admission of Securities to the Official List.

[Note: The Application for Admission of Securities to the Official List form can be found on the Primary Markets section of the FCA’s website.]

29/07/2024G

An application referred to in UKLR 20.5.13R should be made in accordance with the timetable referred to in UKLR 20.5.12R.

19/01/2026G

An issuer referred to in UKLR 20.5.13R that is not required to produce a prospectus must confirm on its application form that no prospectus is required.

19/01/2026G

Apart from UKLR 20.5.13R, UKLR 20.5.14G and UKLR 20.5.15G, no other provisions in UKLR 20.5 apply to the admission of debt securities referred to in PRM 1.3.1R(2), PRM 1.3.1R(3) and PRM 1.3.1R(4).

Other public sector issuers

19/01/2026R

UKLR 20.5.10R, UKLR 20.5.12R and UKLR 20.5.18R   apply to applications for admission to listing of debt securities by a public sector issuer other than one referred to in UKLR 20.5.13R.

29/07/2024R

An applicant referred to in UKLR 20.5.17R must submit the items set out in UKLR 20.5.4R to the FCA in final form by midday 2 business days before the FCA is to consider the application.