Issuance, listing and trading of Perpetual Non-Cumulative Preference Shares (PNCPS) and Innovative Perpetual Debt Instruments (IPDIs)/ Perpetual Debt Instruments (PDIs) (commonly referred to as Additional Tier 1 (AT 1) instruments)

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....ebt Instruments (PDIs) (commonly referred to as Additional Tier 1 (AT 1) instruments) 1. Perpetual Non-Cumulative Preference Shares (PNCPS') and Innovative Perpetual Debt Instruments (IPDIs) / Perpetual Debt Instruments (PDIs) (commonly referred to as AT 1 instruments) are essentially non-equity regulatory instruments, forming part of a bank's capital, governed by Reserve Bank of India (RBI) guidelines and issued under the issuance and listing framework given under Chapter VI of the SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) Regulations, 2013 ("NCRPS Regulations"). 2. These instruments have certain unique features which, inter-alia, grant the issuer (i.e. banks, in consultation with RBI) a discretion in t....

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....ges shall ensure that only QIBs are allowed to participate in the issuance of AT1 instruments. c. Allotment size The minimum allotment of AT1 instruments shall not be less than Rs. 1 crore. d. Trading lot size The minimum trading lot size for AT1 instruments shall be Rs. 1 crore.   e. Other requirements: Issuers, in addition to making disclosures as per Schedule I of the SEBI NCRPS Regulations, shall comply with the following: i. Disclosures as specified in Annex I. ii. Provisions of circulars as specified in Annex II. iii. Specific disclosures about: a) Details of all the conditions upon which the call option will be exercised by them for AT1 instruments, in the Information /Privat....

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.... that permission / consent from the prior creditor for a second or pari passu charge being created, where applicable, in favor of the trustees to the proposed issue has been obtained. 3 Latest Audited / Limited Review Half Yearly Consolidated (wherever available) and Standalone Financial Information (Profit & Loss statement, Balance Sheet and Cash Flow statement) and auditor qualifications. 4 A copy of the latest annual report to the Trustee and the Trustee shall be obliged to share the details submitted under this clause with all 'Qualified Institutional Buyers' (QIBs) within 180 days from the end of the financial year and other existing AT 1 instrument holders within 2 working days of their specific request. 5 Gross debt....

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.... the coupon rate as specified in the Trust deed and disclosed in the IM/PPM, Roles and responsibility of Debenture Trustee.   Annex II S. no Circular date Subject Cir.no 1 October 22, 2013 Centralized Database for Corporate Bonds/ Debentures CIR/IMD/DF/17/2013 2 October 29,2013 Clause I of the Circular on Issues pertaining to primary issuance of debt securities CIR/IMD/DF/18/2013 3 October 13, 2015 Format of uniform Listing Agreement CIR/CFD/CMD/6/2015 4 November 11, 2016 Clarification on aspects related to day count convention for debt securities issued under the SEBI ILDS Regulations, CIR/IMD/DF-1/122/2016 5 June 30, 2017 Specifications related to Internationa....