Roll-over of debt securities requires holder approval and notice, with rating, filing, security and opt-out redemption. Regulation 39 requires an issuer to give at least fifteen days' notice with rationale and a credit rating when proposing a roll-over of debt securities, obtain approval from holders representing not less than three-fourths in value by postal ballot, e-voting or meeting per the offer document, file the notice and proposed resolution with the stock exchange before sending to holders, create and maintain adequate security for rolled-over securities, permit continuation or amendment of the trust deed as needed, intimate the stock exchange upon completion, and redeem securities of holders who do not give positive consent.