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Use of the quoted Eurobond exemption in the loan markets: why, when and how?
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The use of the note subscription agreements has become increasingly common in the EMEA loan markets. There are various tax and regulatory reasons why an entity may choose to obtain debt finance by issuing notes, rather than by borrowing a loan. A common reason that UK companies choose to obtain debt finance in this way is to benefit from the quoted Eurobond exemption from UK withholding tax.
This article explains when this exemption is most likely to be relevant, the criteria that must be satisfied to benefit from it, and the key documentary and practical implications of using it.
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