In the Marx Brothers’ movie Duck Soup, the finances of the mythical and bankrupt country of Freedonia depend on continuing loans from the wealthy Mrs. Teasdale (played by the unflappable Margaret Dumont). For her part, Mrs. Teasdale insists that Rufus T. Firefly (played by Groucho Marx) be named as Freedonia’s leader.
It apparently never occurs to either of them — or to Freedonia’s long-suffering Minister of Finance — to seek financing in the United States capital markets. While that questionable choice of leadership and financial oversight doubtless made for better comedy, it probably didn’t make life any easier for Freedonia’s Treasury Department.
Fortunately for leaders of foreign governments, Latham has published a Client Alert to answer the key questions about how a non-US sovereign borrower can smoothly navigate its way through the SEC registration process and raise money in the United States in a public offering, often referred to as “Schedule B” offerings, after the name of the specific foreign government registration statement mandated by the US Congress in the Securities Act.
Click here to start your journey from Point A to Schedule B.