Cross-Border Liability Management and U.S. Federal Securities Law
Our Cross-Border Liability Management and U.S. Federal Securities Law Series provides an overview of U.S. federal securities law considerations in liability management transactions for the debt securities of non-U.S. issuers and the frequently used structures and features that comply with applicable U.S. laws and regulations. We focus in particular on the common issues arising in cross-border liability management transactions in the Eurobond market.
The topics discussed are the following:
- When is a Debt Repurchase a “Tender Offer”?
- Cash Tender Offers for Non-Convertible Debt Securities
- Exemptions from the U.S. Tender Offer Rules
- Debt Exchange Offers
- Abbreviated Debt Tender and Exchange Offers
- Alternative Offer and Pricing Structures in Tender and Exchange Offers
- Tender Offers for Convertible, Exchangeable and Regulatory Capital Securities
- Consent Solicitations
- The “New Security” Doctrine
- Amending and Restructuring Securities through UK Creditor Schemes of Arrangement