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1 Contributions by NautaDutilh

Belgium: Cross-Border Lending, Security, Perfection, Enforcement, Taxation, Guarantees, Insolvency, Intercreditor Issues, and Recognition of English Law and Judgments
PRACTICE NOTES
Belgium: Cross-Border Lending, Security, Perfection, Enforcement, Taxation, Guarantees, Insolvency, Intercreditor Issues, and Recognition of English Law and Judgments
Loan market and developments The following overview does not reflect any outcomes or shifts arising from a potential Brexit. A decade on from the crisis, Belgium’s financial industry has been reshaped. The banking sector has shrunk, largely due to restructuring among institutions that benefited from state aid. Lenders have reverted to more traditional models, prioritising domestic credit provision and deposit-based funding. The credit cycle is gaining momentum, supported by the economic upturn and exceptionally favourable financing conditions. Overall, corporate lending has continued to expand, whereas growth in household borrowing has levelled off. As reported in the National Bank of Belgium’s Financial Stability Report 2018, annual corporate loan growth reached 5.8% in February 2018, versus 4.9% for households. With better macroeconomic conditions and low interest rates stimulating private-sector demand for debt, loans to non-financial companies and to households represented the majority of the €24bn
Banking & Finance

1 Contributions by NautaDutilh Experts

Listing debt securities on the Luxembourg Stock Exchange: Regulated Market, Euro MTF and SOL—eligibility, prospectus requirements, approvals, admission to trading, ongoing disclosure and fees under EU and Luxembourg law
PRACTICE NOTES
Listing debt securities on the Luxembourg Stock Exchange: Regulated Market, Euro MTF and SOL—eligibility, prospectus requirements, approvals, admission to trading, ongoing disclosure and fees under EU and Luxembourg law
What does this Practice Note cover? This Practice Note sets out a summary of certain requirements relevant to listing debt securities on the Luxembourg Stock Exchange (LuxSE). It is not comprehensive guidance and does not cover matters concerning public offers of securities in Luxembourg. Listing debt securities on the LuxSE follows a five-step pathway, beginning with the choice of market and ending with the securities being effectively listed. Step 1—Choice of a market and eligible debt securities LuxSE market structure The LuxSE runs two distinct trading venues for the trading of securities: the EU-regulated market, known as the ‘Luxembourg Stock Exchange’ (Bourse de Luxembourg) (the Regulated Market); and the multilateral trading facility called the ‘Euro MTF’ (Euro MTF). The Regulated Market qualifies as a regulated market within the meaning of Directive 2014/65/EU of 15 May 2014 on markets in financial instruments, as amended (MiFID II). This market is
Banking & Finance
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