04/09/2009
Ogier acted as Guernsey legal adviser on the £3 million listing of subordinated unsecured convertible loan notes on the Channel Islands Stock Exchange for rugby champions Leicester Tigers.
Cenkos Channel Islands Ltd acted as sponsor in the deal for the special purpose vehicle. The loan note issue will help complete the conference suite facilities, which will be the largest in the East Midlands, and follows on from the completion of the new grandstand at the Leicester Tigers’ Welford Road Ground.
The structure of the issue was designed to be tax efficient to both onshore and offshore investors and was listed on the CISX to ensure the vehicle was eligible from a UK SIPP and ISA perspective.
Caroline Chan, Partner, and
Kerrie Le Tissier, associate lawyer, advised Cenkos on this matter.
