Centralized Database for Corporate Bonds/ Debentures
Summary
This circular mandates the creation and maintenance of a centralized database for corporate bonds by depositories to streamline investor access. It supersedes previous regulations and outlines specific responsibilities for depositories, issuers, stock exchanges, credit rating agencies, and debenture trustees regarding data submission and verification. The document specifies that these requirements apply to debt securities issued on or after August 1, 2021. This section details the specific financial and structural attributes of the debt instrument, including ISIN, face value, tenure, and security status. It outlines the coupon mechanics, such as rate determination, compounding methods, and step-up/step-down features. Additionally, it mandates disclosures regarding credit ratings, redemption terms, put/call options, and default history. Annex II specifies the detailed data fields issuers must submit to stock exchanges regarding listing details, credit ratings, payment status, and default history. Annex III establishes the timelines for information updates by various market participants including issuers, stock exchanges, depositories, and rating agencies. These provisions mandate pe
Text
SEBI mandated Depositories to jointly create, host, and maintain a Centralized Database of corporate bonds held in demat form.
The earlier circular is superseded to provide an updated list of data fields and filing manners.
Depositories shall continue to jointly create, host, maintain and disseminate the centralized database of corporate bonds available in demat form.
Depositories shall ensure to have adequate systems and safeguards to maintain the integrity of data and to prevent manipulation of data.
Each Depository shall synchronize the database in consultation with the other Depository.
The Depository which receives information from an issuer shall host the same as well as share it with the other Depository for hosting within three working days from the date of receipt of the information.
Depositories shall categorise investors as per the SEBI Circular No. CIR/CFD/CMD/13/2015 dated November 30, 2015.
Depositories shall provide secure login credentials to Issuers, Stock Exchanges, Credit Rating Agencies and Debenture Trustees for updating and verifying requisite information.
Issuers shall fill all the requisite fields as provided in Annex-I in the Centralized Database at the time of allotment of the ISIN.
Post listing of securities, Issuers shall submit information in the requisite fields as provided in Annex-II to any of the Stock Exchanges where their securities are listed on a periodical basis and/or ‘as and when’ basis.
Stock Exchanges and Depositories shall develop a system such that information received by them is updated on the Centralized Database on a daily basis.
Stock Exchanges shall verify listing details as provided in Annex- I and II of the circular in the Centralized Database.
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Source: SecMarx — Centralized Database for Corporate Bonds/ Debentures. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.