Sebi may cap ISINs for corporate bonds

Mumbai: The Securities and Exchange Board of India (Sebi) on Friday proposed to cap International Securities Identification Numbers (ISINs) for corporate bonds, in a bid to boost liquidity in the debt market.

“Issuers have represented that capping of ISINs and reissuing bonds in the same ISINs have aided them in better projection of cash flow requirements and, thus, enabling them to effectively carry out their asset liability management requirements,” Sebi said in a discussion paper.

“They have also stated that, procedurally, it has also helped in reducing the multiplicity in formalities such as filing of offer documents, creation of ISINs, tracking covenants, etc.”

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