FIXED INCOME- FAQ’s

Q. Issuer Name Change: Would it be possible to add new security ID and New Security ID Type field? This would allow clients to view the new ISIN or Sedol associated with this event.

A: This event has been inherited from the Equity side of WCA. It is at an issuer level so the security is not affected. Issuer name change generally does not result in ISIN/SEDOL changes.

Q. Liquidation: Event is missing from Record Date field

A: This event has been inherited from the Equity side of WCA. It is present in the underlying database.

Q. Certificate Exchange: Event is missing new shares, old shares, and effective date.
This event has start date and end date with terminology about buybacks for these dates. Not sure if this is correct on spec.

A: This event has been inherited from the Equity side of WCA. Please refer to the WCA Event glossary, which will clarify the misinterpretation.

Q. Security Description change: Should this event have a New Security ID and ID Type field?

A: This event has been inherited from the Equity side of WCA. This is similar to issuer name change. Only the security description changes. Security ID does not change.

Q. New Listing:If the security is a convertible security, will we be able to view here or should we use another event type?

A: This event has been inherited from the Equity side of WCA. Please refer to the WCA Event glossary, which will clarify the misinterpretation. If the terms of the Convertible security need to be seen they can be from other parts of the system.

Q. Arrangement: Event is missing new shares, old shares, amount, amount currency, new security id, and new security ID type.

A: This event has been inherited from the Equity side of WCA. Since it is a complex reorganisation we have kept this event as a free notes format. If the event can be fielded then information will be populated in the relevant event (i.e. we would not create an Arrangement record).

Q. Demerger: Event is missing the expiration date field.

A:This event has been inherited from the Equity side of WCA. It is not possible to have an expiration date in a Demerger.

Q. Merger: why is ex-date included as a field? Event is missing expiration date field.

A: This event has been inherited from the Equity side of WCA. The ex-date has to be there, it is not possible to have an expiration date in a Merger.

Q. Preferential Offer: Event is missing the expiration date.

A: This event has been inherited from the Equity side of WCA. We have the End of the Subscription period (terminology issue).

Q. Purchase Offer: Is there a way in which we can determine if this is an offer by another company or a buyback?
Is there a way in which we can determine if the offer is an odd-lot offer?

A: This event has been inherited from the Equity side of WCA. Please refer to the WCA Event glossary, which will clarify the misinterpretation.
No we have no provision for odd lot offers. However, we have fields that show the holding qualification for the offer, which is used to indicate odd lot offers.

Q. Security Swap: Event is missing the effective date. Why is ex-date included as a field?

A: This event has been inherited from the Equity side of WCA. This event is linked to the Record Date table, which in turn gives the ex-date for the security swap to happen. There is no effective date.

Q. Call Put Option: Should this event have a share payout? Client needs to be able to see what the options are for their holders

A: If a fixed income security has a Call or Put Option it enables the issuer (call) or bondholder (put) to redeem partially or fully the fixed income security. So there cannot be a Share payout. Bondholder options would be seen under the Put Option.

Q. Conversion Terms: Can EDI please explain what type of events will be supported under this event?

A: There is only one event (i.e. Conversion), for a convertible security the conversion terms of which are given in this table.

Q. Conversion Terms Change: Can EDI please explain what type of events will be supported under this event?

A: Again it is a single event. It enables one to track any changes in the Conversion terms of a convertible security.

Q. FRN Fixings: Can EDI please explain what type of events will be supported under this event?

A: It will enable tracking of changes in the terms of the Floating Rate Notes (FRN)(E.g. Benchmark or Margin change).

Q. Interest: Will this event support both fixed and variable bonds?
Can EDI please explain what type of events will be supported under this event?

A: Yes, the interest event will be supported.

Q. Interest Payment: What is the difference between Interest event and Interest Payment event?

A: An interest event contains details of the interest and multiple options are available in the interest payments events.

Q. Redemption Term Change: Can EDI please explain what type of events will be supported under this event?

A: It will track the amounts redeemed at each redemption of partially redeemable fixed income securities.

Q. Redenomination: Event is missing: Minimum Denomination · Redenomination Basis · New Par Value · Old Par Value · New Shares,· Old Shares, · New Security Description · New Security ID and New Security ID Type.

A: New Shares · Old Shares · New Security Description · New Security ID and New Security ID Type are not relevant. Minimum Redenomination is present in the base database.

Q. Tranche:Can EDI please explain what type of events will be supported under this event?

A:It tends to be part of a programme. A Tranche is a further issue of the same security but is not pari passu to the main one and is usually allocated a temporary ISIN. This subsequent issue is fungible with the original security at a specified date in the future.

Q. Instalment Payment: There are times when a holder can purchase a security, but in paying for the security they will pay in instalments.

A: This event is a Call in WCA. Equity part of WCA.

Q. PIK Distributions: Company elects to pay holders an additional number of securities in lieu of a cash payment.

A: This is not allowed in Fixed Income.

Q. Partial Redemptions:

A: There is a Redemption type field in the Redemption Terms table, which will identify various forms of redemptions.

Q. Full Redemptions:

A: There is a Redemption type field in the Redemption Terms Table, which will identify various forms of redemptions.

Q. Return of Capital:

A: This is not allowed in Fixed Income.

Q. Sealed Bid Tender Offer: Offer to holders to submit confidential bids for the purchase of an issuer’s principle.

A: This is covered under Purchase Offer