ESMA · ESMA_QA_1454 Answer Published

Annexes 14 and 15: Inside Information or Significant Event Information - Disbursement Date

Regulation
Securitisation Regulation (EU) 2017/2402
Topic
Securitisation Disclosure Templates
Submitted
2019-07-17
Answered
2019-07-17
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Question

How should this field be interpreted?

Answer

[ESMA 33-128-563 Securitisation Q&A, Q&A 5.15.11] For example, assume that a Class A tranche is issued on 08 February 2016, and has an extended first paydate period and afterwards begins to pay interest on quarterly dates on the 23rd of the 1st, 4th, 7th and 10th month. Hence, the first paydate is 23 July 2016. In this scenario, the Disbursement Date is reported as 23 July 2016. This date should not normally change, as it reflects the first date for the class on which interest begins to be paid out to noteholders.
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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