Listing Guidelines and Trading Procedures for Debt Securities

March 15, 1999LISTING GUIDELINES AND TRADING PROCEDURES FOR DEBT SECURITIESMarket Development DepartmentBusiness Development and Information GroupPhilippine Stock Exchange, Inc.*9. Default — Failure to make timely debt service when due or failure to comply with any other covenants pertinent to the issue.10. Guarantor — The party that takes responsibility for the payment of a debt or performance of an obligation if the person primarily liable fails to perform. LibLex11. Issuer — A legal entity authorized to issue a security. Issuers include the national government, private or government-owned and/or controlled corporations, local government units and special purpose vehicles.12. Local Government Securities — Debt securities issued by local government units (LGUs).13. Material Information — (1) Information that would likely affect the market price of the security after being disseminated to the public and the lapse of a reasonable time for the market to absorb the information, or (2) Information that would be considered by a reasonable person as important under the circumstances in determining his course of action whether to buy, sell or hold a security in the...