Article
JIBAR To ZARONIA: The Namibian Securities Exchange Streamlines The Path For Namibia’s Benchmark Transition
The Namibia Securities Exchange has introduced a streamlined regulatory framework for transitioning listed debt instruments from JIBAR to ZARONIA, establishing an exchange-level process that differs significantly from South Africa's approach. This directive allows issuers to implement the benchmark transition through simple addenda without bondholder approval, raising important questions about the balance between regulatory efficiency and contractual rights in debt capital markets.
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