The language of the Issue Memorandum is English

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The Law and Lore of Repackaging


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We are not sure which Linklaters managing associate fever dream prompted this kind of baffling disclosure statement, but we are pretty certain it is that kind of foundry: only the product of years of Magic Circle beasting could generate something quite this obtuse. Look, we can giggle at those well-meaning Eurocrats, hell-bent with their KIIDS, on demystifying all the manifold arcana of capital markets prospectusry — but not even they could be pedantic enough to require disclosure of the fundamental natural language one is communicating ones offering document in?

Could one honestly, over the two-hundred and seventy pages of a prospectus, really be left any doubt? Could you carry on thinking, well, this looks like English, but there remains an outside chance that this is bulgarian?