Qualifying institutional buyer: Difference between revisions
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
Wikipedia has a pretty good entry on [[QIB]]s: | {{a|repack|}}Wikipedia has a pretty good entry on [[QIB]]s: | ||
https://en.wikipedia.org/wiki/Qualified_institutional_buyer | https://en.wikipedia.org/wiki/Qualified_institutional_buyer | ||
This concept is relevant to | This concept is relevant to [[U.S. persons]] who are purchasing {{tag|debt securities}} in offerings which are not SEC registered. Generally {{tag|US persons}} cannot buy from public offers of securities that are not registered with the SEC (known as {{tag|Regulation S}} issues - it includes most {{tag|Eurobond}}s issued in the London market. | ||
There is an exemption - the Rule 144A exemption, which applies to private offers of securities to [[QIB]]s. QIBs are basicvally "big boys" who do not require SEC protection to make these investments. They must hold the securities for a certain period before selling them. | There is an exemption - the Rule 144A exemption, which applies to private offers of securities to [[QIB]]s. QIBs are basicvally "big boys" who do not require SEC protection to make these investments. They must hold the securities for a certain period before selling them. | ||
Not to be confused with TEFRA rules relating to [[bearer security|bearer securities]], which are tax related. | Not to be confused with TEFRA rules relating to [[bearer security|bearer securities]], which are tax related. | ||
{{sa}} | |||
*[[US private placement]] | |||
Revision as of 17:19, 28 February 2023
|
The Law and Lore of Repackaging
|
Wikipedia has a pretty good entry on QIBs:
https://en.wikipedia.org/wiki/Qualified_institutional_buyer
This concept is relevant to U.S. persons who are purchasing debt securities in offerings which are not SEC registered. Generally US persons cannot buy from public offers of securities that are not registered with the SEC (known as Regulation S issues - it includes most Eurobonds issued in the London market.
There is an exemption - the Rule 144A exemption, which applies to private offers of securities to QIBs. QIBs are basicvally "big boys" who do not require SEC protection to make these investments. They must hold the securities for a certain period before selling them.
Not to be confused with TEFRA rules relating to bearer securities, which are tax related.