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December 06, 2022

SEC approves first corporate debt vehicle

The SEC unveiled the country’s first debt vehicle to introduce more liquidity options for firms.

The Securities and Exchange Commission approved the country’s first corporate debt vehicle in a bid to introduce a wider range of investment avenues for companies amid the pandemic.

The SEC authorized ATRAM Unitized Corporate Debt Vehicle, Inc. as a closed-end investment company for the deal, which shall be offering 50 billion units of participation as an exempt transaction.

The proceeds from the issuance of securities will be invested in note, bonds, debentures, commercial papers, and other evidence of indebtedness, of large corporations and medium-sized enterprises around the country.

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