ジャンプリンクテキスト
Amendments eliminate audited three-year guarantor financial statement footnote and separate financial statements of subsidiaries whose shares are pledged; replaced with unaudited combined summarized financial information for most recent year and interim period
On March 2, 2020, the Securities and Exchange Commission released its final amendments to the rules governing the supplemental financial information required for SEC-registered debt securities that have guarantees or that are collateralized by shares or other securities of subsidiaries or other affiliates. These amendments significantly reduce the amount of financial information required for those securities in addition to the parent company’s consolidated financial statements. They provide welcome relief to repeat issuers of registered debt securities with subsidiary issuers or guarantors and to all companies that have outstanding guaranteed debt securities previously issued in registered offerings or with registration rights. The amendments will become effective on January 4, 2021, but the SEC has expressly permitted voluntary compliance with the new rules before then.