Do issuers need to publish a final prospectus by the subscription date, or can borrowers subscribe for a loan based on the “red” prospectus, and deliver the final prospectus at a later date?
On the subscription date, the primary dealer must provide the custodian with the CUSIP numbers and prospectuses/offering documents of all collateral expected to be pledged against the TALF loans. If the CUSIP number corresponds to a new issuance, the prospectus/offering documents submitted on subscription date may be preliminary, but the final prospectus/offering documents (including the corresponding accountant’s report) must be provided to the custodian no later than four days prior to the TALF loan settlement date.
Related Questions
- Do issuers need to publish a final prospectus by the subscription date, or can borrowers subscribe for a loan based on the "red" prospectus, and deliver the final prospectus at a later date?
- Do issuers need to publish a final prospectus by the subscription date, or can borrowers subscribe for a loan based on the "red" prospectus, and deliver the final prospectus at a later date?
- Can the USDA loan approval be based on the contingent to the selling of a borrowers existing home?
