13. Would funds, which are received by a non-resident controlled company as a result of the origination of an ABS issue, fall within the definition of ?credit facilities? and therefore be subject to the computation of 3:1 domestic debt to capital funds ratio for the purpose of exchange control notices?

Such funds would not be deemed as ?credit facilities? provided that the disposal of asset meets the true sale criteria under the ABS Guidelines.

Remark: A Bond is a debt investment in which an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period of time at a fixed interest rate. Bonds are used by companies, municipalities, states and U.S. and foreign governments to finance a variety of projects and activities.