The purpose of this industry guidance document, which is the result of cross-market work carried out by various actors (issuers, intermediaries and investors), is to produce a charter for developing Euro Private Placements (Euro PPs) and creating a benchmark market for them, both in France and internationally. It is built on existing practices in the bond and bank loan markets, as well as practices in other international private placement markets.
This Charter is intended to provide a non-binding framework of best practices that are essential for the development of Euro PPs. This document is intended for instructional purposes and is not a pro forma contract. Readers are reminded of the importance for each party of negotiating contractual terms, which may vary depending on the type of transaction, the borrower’s situation and market conditions.
This Euro PP Charter is designed to be adapted and supplemented as circumstances evolve.
A. Issues and Objectives
B. Definitions and Existing Formats
C. Parties, Documentation and Timetable
D. Key Processes - Recommendations
- Appendix 1: Information Memorandum Template
- Appendix 2: Form of Non-Disclosure Agreement
- Appendix 3: Terms and Conditions Template (bond format)
- Appendix 4: Arranger’s Due Diligence Questionnaire Template