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<h1>Regulation 20A allows debt securities consolidation and re-issuance with conditions like private placement and updated credit ratings.</h1> Regulation 20A of the Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008, allows an issuer to consolidate and re-issue its debt securities, subject to specific conditions. These include ensuring that the issuer's articles of association do not contradict such actions, conducting the issue through private placement, acquiring a fresh credit rating from a registered agency for each re-issuance, periodically revalidating and disclosing any changes in ratings, and making appropriate disclosures in the Term Sheet regarding the consolidation and re-issuance.