Graphic Strip - Changes in Bond Terms
​Changes in Bond Terms

A company that wishes to change the terms of the bonds or convertible bonds it issued in the past must obtain advance approval from the Tel Aviv Stock Exchange that the new terms do not contradict the TASE regulations and that the TASE systems are prepared to make the payments according to the new terms.

 

Procedure for Handling Bonds of Companies in Difficulties

In recent years, the number of companies who are in difficulties and their bonds are traded on the TASE has increased. The TASE's procedure for dealing with bonds of companies in difficulties, includes only general principles, on certain subjects, does not exhaust the range of relevant issues and how to deal with them. Due to the differences between the cases, additional conditions may be determined by TASE, each case according to its circumstances.
Procedure for handling bonds of companies with difficulties (Hebrew)  > 
 
According to TASE rules, each arrangement is subject to prior written approval of the TASE that the changes in the terms of the bonds and the allocation of new securities in the framework of the arrangement do not contradict the TASE regulations and that the TASE systems are prepared to make payments according to the arrangement.
 
In view of the experience gained in handling such arrangements and in order to streamline the process, a concentration of clarifications and updates was prepared on the subject. This document is intended for convenience only. The binding rules applicable to the listing of new securities and changes in the terms of existing securities, within the framework of bond arrangements, are set forth in the TASE Rules and Regulations.