4.1.2.1. Planning

Even though the Company must prepare itself to become a Company with publicly traded bonds, given the greater simplicity of the process and the greater flexibility of the requirements applicable to the admission to trading on an MTF market, the planning phase will mostly focus firstly on assuring the Bond Offering is the best option for obtaining the intended financing and, if so, assuring the Company’s bonds will generate interest from investors.

4.1.2.1.1. Eligibility criteria

When choosing one of the MTFs for admission to trading, there are no requirements regarding the composition of the management and supervision bodies.

4.1.2.1.2. Financial Accounts

When choosing an MTF for the admission to trading, you won’t need to adapt your financial accounts to a different accounting standard.

Requirements to listing on the MTF’s markets operated by Euronext are the following:

4.1.2.1.3. Appointment of Advisors

When choosing the MTF markets your Company will need to hire a Listing Sponsor – mandatory for the MTFs operated by Euronext – that will help to navigate the Bond offering process and assist you with the interactions with the Stock Market Operator.

Nevertheless, advisors may be very helpful and beneficial to assist the Company in the Bond Offering process, develop marketing efforts for the distribution of the bonds, including organizing roadshows of the Company’s management with investors. The job of the advisors and, at the limit, the need to hire (other than the Listing Sponsor) will depend on your Company’s internal legal and finance capabilities and resources, the size of the offering and the level of marketing efforts.