TISE - complex and unusual debt listings

The International Stock Exchange is well known as a leading venue for the listing of private equity Eurobonds, intra-group financing arrangements and high yield debt securities. However, its appeal extends far beyond more traditional debt capital market transactions.

A defining feature of The International Stock Exchange (TISE) is its responsive and innovative approach to listings, which means it can accommodate a range of innovative, unusual and specialist securities structures across different sectors and jurisdictions.

Over the years, issuers, advisers and arrangers have turned to TISE for transactions involving complex, bespoke or less conventional securities. This is because they benefit from a flexible regulatory framework, efficient listing process and a deep understanding of evolving market requirements.

As a result, TISE has developed a strong track record in supporting the listing of a diverse range of products, including the following:

• hybrid capital securities, such as Callable Subordinated Tier 2 bonds, Additional Tier 1 (AT1) and Restricted Tier 1 (RT1) securities
• perpetual securities, warrants, preference shares, capital notes, liquidating trust participation notes and derivative bonds
• defence bonds and funds (TISE's minimised disclosure requirements support commercial confidentiality when listing defence-related transactions)
• Islamic finance-related structures, including Shariah compliant debt, sukuks, trust certificate programmes and other types of transactions featuring commodity Murabaha, as well as Shariah compliant REITs and funds
• Nordic bonds
• sovereign, supranational and agency (SSA) bonds
• actively managed certificates (AMC)
• insurance-linked securities (ILS)

Ogier Corporate Finance Limited has worked with TISE for many years to facilitate the listing of such novel and ground breaking securities and has built up a significant amount of expertise in doing so. This, coupled with the quick and easy process for undertaking a listing make TISE a very attractive listing option.

Should you be considering whether your securities or those of a client are capable of being listed, we would be delighted to speak with you and provide our initial thoughts as well as talk you through the listing process and provide a competitive fee quote tailored to your requirements.

Contact our dedicated Listing Services team to learn more.

About Ogier

Ogier is a professional services firm with the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost-effective services to all our clients. We regularly win awards for the quality of our client service, our work and our people.

Disclaimer

This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.

Regulatory information can be found under Legal Notice