The Ukraine National Commission on Securities and Stock Market announced that issuers can carry out multiple public offerings of corporate bonds using a base prospectus, allowing repeated issuance under one approved disclosure document and simplifying the overall issuance process. A base prospectus is intended for issuers planning more than one public offering and contains essential issuer information and general information about the corporate bonds to be issued in the future. Once the Commission approves the base prospectus, the issuer can issue several bond series by preparing only the final terms for each issue, covering items such as the placement term and procedure, income payments and redemption. The Commission highlighted that approval timelines for subsequent issues and final terms are reduced to 10 working days, issuer costs are lowered because updates are made to a single document, and investors can review the issuer’s activities, ownership structure, risks and forward plans in advance. The Commission noted that Ukraine registered its first bond issue using a base prospectus in February 2025.
Ukraine National Commission on Securities and Stock Market 2025-11-11
Ukraine National Commission on Securities and Stock Market expands corporate bond issuance using a base prospectus with faster approval of subsequent series
The Ukraine National Commission on Securities and Stock Market now permits issuers to conduct multiple public offerings of corporate bonds using a base prospectus, streamlining the issuance process. This approach reduces approval timelines to 10 working days and lowers issuer costs by consolidating updates into a single document. The first bond issue under this framework was registered in February 2025.