Interim Guidelines for the Registration of Bonds

December 14, 1987INTERIM GUIDELINES FOR THE REGISTRATION OF BONDSTo enable corporations to issue and float bonds pending release of the rules on registration of bonds, the following guidelines shall be observed in the meantime: cdaI. DefinitionBonds shall refer to securities representing denominated units of indebtedness issued by a corporation to raise money or capital obliging the issuer to pay the maturity value at the end of a specific period which should be not less than 360 days, and where applicable, payment of interest on stipulated dates.Bonds secured by mortgage on specific corporate property shall be created under Sec. 38 of the Corporation Code prior to registration.II. Conditions for Registration. — Bonds shall be registered under any of the following conditions:A registrant must have a minimum net worth of P25 million at the time of the filing of the application for registration.A. UNSECURED BONDSIn addition to the minimum net worth, a registrant must be in operation for at least three (3) years and must meet the following complementary financial ratios as may be set by the...