Appleby Securities (Channel Islands) Ltd (“Appleby”)  with the support of and The International Stock Exchange (TISE) has worked on a significant number of listings of debt securities on TISE.

LISTING HIGH YIELD BONDS

Since 2016, an increasing number of issuers of high yield bonds have chosen TISE as the stock exchange of choice in order to list high yield bonds. In fact, there were 202 newly listed High Yield Bonds across 2021 and 2022. TISE is a “recognised stock exchange” by, amongst others, HMRC and is uniquely positioned in Europe but outside the EU and UK, providing a proportionate disclosure regime. TISE’s robust but proportionate listing rules, combined with TISE’s pragmatic and commercial approach to listings, often appeals to issuers from the UK, Europe, the US and Asia.

These high yield bonds tend to be issued under New York law governed offer documents, and are marketed to qualified institutional investors and sophisticated investors under Rule 144A of the United States Securities Act of 1933. Appleby works closely alongside New York lawyers and advisers, in order to list the high yield bonds on TISE.

TISE IS THE KNOWN EXCHANGE OF CHOICE FOR HIGH YIELD BONDS

The key advantages to listing on TISE, using Appleby as your listing sponsor:

  • responsive and knowledgeable listing teams
  • guaranteed review times
  • competitive pricing
  • established European market practice
  • proportionate disclosure requirements

LISTING SPONSOR SERVICES

During 2022 Appleby continued to be one of The International Stock Exchange’s (TISE) leading listing agents, assisting various clients and intermediaries with the listing of multiple forms of debt and equity on TISE.  The total debt listed on TISE by the Appleby team equated to over GBP2.5 billion, broken down by applicable currency to being approximately GBP926 million, USD1.6 billion and EUR37 million of debt.

At TISE, the 956 newly-listed securities in 2022 were only surpassed by the record 1,111 new listings during 2021, meaning that the last two years have been the most successful for new listings in the exchange’s history.

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

Today, there are more than 4,000 securities listed on TISE. The majority of listings on TISE are for debt securities (including High Yield Bonds, Securitisations, CLOs, Bond Programmes and Quoted Eurobonds) but TISE can also list other types of securities, such as Sustainable Bonds, REITs, other investment vehicles and equity listings.

For more information on our expertise related to our listings services, please contact your usual Appleby contact or any of the people below.

Key Contacts

Christophe Kalinauckas

Partner: Jersey

T +44 (0)1534 818 193
E Email Christophe

James Gaudin

Managing Partner: Jersey

T +44 (0)1534 818 337
E Email James

Andrew Weaver

Partner: Jersey

T +44 (0)1534 818 230
E Email Andrew

Michael Davies

Associate: Jersey

T +44 (0)1534 818 124
E Email Michael

Share
Twitter LinkedIn Email Save as PDF
More Publications
22 May 2024

Listing and Delisting Eurobonds on The International Stock Exchange

Find out more about the advantages of listing debt securities on TISE, including the wide internatio...

7 May 2024

The International Stock Exchange: Structures and Suitability

A summary of Appleby listing agent services in the Channel Islands, including the structures and sui...

1 May 2024

BEWARE: GREEKS RECEIVING GIFTS! REPRESENTATION OF EQUIOM TRUST (CI) LIMITED, IN RE MATTAS [2024] JRC 068

A recent Judgment on the principles applicable to charitable trusts, wills and their construction em...

30 Apr 2024

Secondary Pensions in Guernsey: Are you ready for it?

After several years of planning (and delays), The Secondary Pensions (Guernsey and Alderney) Law (La...

11 Apr 2024

Jersey: corporate re-domiciliation and tax residency changes

An analysis of how Jersey law offers flexible solutions for corporate re-domiciliation and tax resid...

9 Apr 2024

The Global – your offshore corporate law questions answered: April 2024

The Global is a quarterly collection of corporate expert insights and analysis across Appleby's glob...

26 Mar 2024

Listing high yield bonds on The International Stock Exchange (TISE)

Find out why TISE is the stock exchange of choice for High Yield Bonds

19 Mar 2024

Guernsey retains its EU adequacy – as expected

The post-Brexit regulatory landscape continues to throw up challenges and jurisdictional arbitrage, ...

18 Mar 2024

Parental Bereavement Leave: Jersey to implement further family leave rights

The UK introduced “Jack’s law” in 2020. Jersey is now following the UK’s example, and as of ...