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ARTICLE · 20 NOVEMBER 2020

ECB Asset Purchase Programmes: What Do Corporate Debt Issuers Need To Know?

Arthur Cox
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Corporate bond issuances are increasingly being structured so that the bonds are eligible for purchase under the European Central Bank's Asset Purchase Programmes.

IrelandCorporate/Commercial Law
Arthur Cox
Arthur Cox
Aiden Small
Aiden Small
Phil Cody
Phil Cody
Sinead Cantillon
Sinead Cantillon
Stephen Ranalow
Stephen Ranalow
Aisling Kelly
Aisling Kelly
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Corporate bond issuances are increasingly being structured so that the bonds are eligible for purchase under the European Central Bank's Asset Purchase Programmes. Ireland is a jurisdiction of choice for corporates looking to establish treasury vehicles to issue debt that meets the European Central Bank's requirements. This briefing explains why that is the case, and the eligibility criteria that corporate debt issuers need to consider.

Efforts by regulators and governments to provide additional supports to businesses during the COVID-19 pandemic have led to renewed interest in the Asset Purchase Programmes (APPs) of the European Central Bank (ECB).

The pandemic emergency purchase programme (PEPP), which expanded the ECB's corporate sector purchase programme (CSPP) and other asset purchase programmes, has been of particular interest to corporate debt issuers. Although corporate debt issuers cannot issue debt instruments directly to the ECB, bonds can be

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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