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Can somebody explain what is difference between 144A bond offering vs Regulation S offering vs Registered Bonds.

Also can 144A bond offering be done by US issuer ?

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144A vs Reg S1 Registered bonds - well, registered with the SEC. 144A and Reg S are exemptions from registration. Read the link for a decent discussion of 144A vs Reg S. In essence though, 144A permits issuers to sell unregistered bonds IN THE US to "qualified institutional buyers" aka "QIBs" (entities that have a high net worth and can demonstrate that they are or should be viewed as knowledgeable enough to protect themselves and don't need the "protection" of SEC registration to assess the securities. Reg S is a mechanism for a US issuers to issue securities outside of the US and thus also not register the securities with the SEC. As they are not being sold to US entities SEC protection is viewed as not being necessary.

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  • $\begingroup$ can 144A bond offering be done by US issuer ? $\endgroup$ – Kapil Aug 2 '17 at 5:47
  • $\begingroup$ Also can you share some good link for 144A bond offering. video link will be very helpful $\endgroup$ – Kapil Aug 2 '17 at 5:48
  • $\begingroup$ Well, no one issues pursuant to 144A. Rather, anything that is NOT issued with an exemption from registration is unregistered and thus only a subset of US investors can buy them (only talking from US jurisdiction perspective here, i.e. based in the US both investor and issuer). 144A is a catch-all rule that permits a subset of investors that can afford to take the risks to buy unregistered bonds, sort of "caveat emptor". These type of investors are called "qualified institutional buyers" investopedia.com/terms/q/qib.asp, that can buy pretty much anything that they want. $\endgroup$ – Bikenfly Dec 15 '17 at 12:56
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Regulation S Selling and Transfer Restrictions: A Basic User’s Guide Pretty good discussion.

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