General SENS Submitter Company - GEN General - JSE Limited - Amendments to the JSE Debt Listings Requirements

GEN – General - JSE Limited - Amendments to the JSE Debt Listings Requirements

GEN – General - JSE Limited

Amendments to the JSE Debt Listings Requirements

The JSE amended the JSE Debt Listings Requirements (the “Debt Requirements”) to expand the
current Sustainability Segment and introduce the Transition Segment.

The JSE currently has a Sustainability Segment for debt securities based on a use of proceeds
sustainability model.

The amendments to the Debt Requirements are the following:

    *   The JSE introduced Sustainability-Linked Debt Securities which are forward-looking
        performance-based debt securities for which the financial and/or structural characteristics can
        vary depending on whether the applicant issuer achieves predefined sustainability / ESG
        objectives pursuant to the sustainability-linked standards.
    *   The JSE introduced Transition Debt Securities whereby the applicant issuers can raise funds
        for climate and/or just transition-related purposes. The Transition Debt Securities can take the
        forms of either (i) Sustainability Use of Proceeds Debt Securities or (ii) Sustainability-Linked
        Debt Securities.
    *   In order to accommodate the above new debt securities, the current debt securities under the
        Sustainability Segment will be deemed Sustainability Use of Proceeds Debt Securities to align
        with its sustainability use of proceeds objectives.
    *   The JSE introduced two new segments to accommodate the above debt securities:
            o   Sustainability Segment comprising Sustainability Use of Proceeds Debt Securities
                and Sustainability-Linked Debt Securities; and
            o   Transition Segment comprising Transition Debt Securities.


The Financial Sector Conduct Authority (the “FSCA”) published the approval of the amendments to
the Debt Requirements in the Government Gazette through Board Notice 220 of 2022 No. 45954, with
the effective date as the date of publication. However, after engagements with the FSCA, it was
agreed that the effective date will be 11 April 2022.

The JSE will issue a notice to the debt market on the transitional provisions in respect of the new Debt
Requirements before the effective date.

The new Debt Requirements are available on the JSE’s website: www.jse.co.za (Route: Companies &
Issuer Regulation/Issuer Regulation/Announcements regarding Listings Requirements).

The JSE is working with its publisher to prepare a bulletin to the Debt Requirements, as it relates to
the amendments.

8 March 2022

Date: 08-03-2022 11:00:00
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