Listing ESG and Green Bonds on The International Stock Exchange

Appleby Securities (Channel Islands) Ltd (“Appleby”) and The International Stock Exchange (TISE) work together on a significant number of listings of debt securities on TISE.

Green finance and listings

Environmental, social and corporate governance (ESG) is high on agendas, and the popularity of green finance has increased over the last few years.

The growth of green finance coincides with the increasing demand from investors who are looking to see a positive impact from investments they have made alongside traditional financial return.

TISE has a market segment for green investments, TISE GREEN, which provides enhanced visibility to bonds, funds and trading companies which are verified as making a positive environmental impact.

TISE GREEN has been established to enable those seeking investment into environmentally beneficial initiatives to highlight their green credentials while, at the same time, providing easier access for investors who are looking to allocate towards those investments which have been verified as meeting globally recognised standards in green finance.

Key features of TISE GREEN:

• Open to any type of green investment, including bonds, funds, investment vehicles and trading companies
• Open to issuers from any jurisdiction
• Both at the time of proposed entry and ongoing annually, the issuer must provide verification of the investment’s green credentials by an appropriate third party against a globally recognised standard
• The investment must first be admitted to TISE’s Official List before being eligible for entry to TISE GREEN
• Beyond the usual fees for listing on TISE’s Official List, there is no additional charge for entry to, or an ongoing presence on, TISE GREEN

The process for listing ESG and Green Bonds follows the standard listing process with the additional benefit of enhancing the profile of the securities through the admission to the green segment of an internationally recognised stock market.

Whilst offering a “recognised stock exchange” by, amongst others, HMRC, TISE’s robust but proportionate listing rules, combined with TISE’s pragmatic and commercial approach to listings, often appeals to issuers from the United Kingdom, Europe, the United States and Asia.

Listing Sponsor Services

Appleby is a leading listing agent with TISE, which listed 831 securities during 2020 against the backdrop of the coronavirus (COVID-19) global pandemic. This is the second highest annual total of new listings since the inception of TISE and Appleby acted as listing agent on an increasing number of these listings, representing a 37% increase on 2019.

Appleby assists domestic and international entities looking for a primary or secondary listing on TISE. Our listings team is committed to delivering a highly professional and integrated service, coordinating the listing process, and supporting the issuer through their application. We also act as our client’s ongoing listing agent and assist them in meeting their continuing obligations as a listed issuer on TISE.

The International Stock Exchange

TISE is a regulated marketplace from within the European time zone but outside the European Union. TISE is a “Recognised Stock Exchange” by UK HM Revenue & Customs. Today there are more than 3,100 securities listed on TISE. The majority of listings on TISE are for debt securities (including High Yield Bonds and Quoted Eurobonds) but TISE can also list other types of securities, such as REITs, Green Bonds, SPACs, other investment vehicles and equity listings.

Do get in touch with your usual Appleby contact should you wish to discuss.