Ordinance n°2017-970 of 10 May 2017

Ordinance n°2017-970 of 10 May 2017, which aims to foster the development of bond issuances, was published on 11 May 2017. The main purpose of the Ordinance is to simplify the degree of formality involved in bond issuances and to modernise the representation of bondholders. Although implementing decrees are yet to be published, the Ordinance should assist in promoting the development of Euro-PP and project bonds as well as simplify bondholder meetings, which remain excessively formalistic and may be regarded by issuers as burdensome and costly.