Page 9 - Bus365 Issue 10 2021 WEB
P. 9



          The Isle of Man Treasury has listed £400 million sustainable bonds on The International Stock Exchange
              he Isle of Man Treasury £400 million   HSBC acted as Sole ESG Structuring Advisor.
              1.625% Sustainability Notes due 2051
                                            Anthony Byrne, Head of Bond Markets at TISE,
         Thave been listed on TISE’s Qualifi ed
                                            told B365: “I am delighted to welcome The
          Investor Bond Market (QIBM) and admitted to its
                                            Isle of Man Treasury’s £400 million sustainable
          sustainable market segment, TISE Sustainable.
                                            bonds to listing on our recently launched
          The issuance is in line with the Isle of Man   Qualifi ed Investor Bond Market (QIBM) and
          Government’s newly-established Sustainable   admission to our sustainable market segment,
          Financing Framework, which is aligned to the   TISE Sustainable. This listing from The Isle
          International Capital Market                       of Man Treasury is
          Association (ICMA) Green                           another milestone in
          Bond Principles, ICMA                              the ongoing growth
          Social Bond Principles                             of TISE as a major
          and ICMA Sustainability                            European market
          Bond Guidelines, and                               for professional
          which has received a                               bond issuances,
          Second Party Opinion                               including those
          from Sustainalytics. The                           supporting
          eligible projects covered in
          the Sustainable Financing
          Framework include clean
          transportation, energy e  ciency, a ordable   environmental, social and sustainable
          housing, education and healthcare.  initiatives. My thanks to all transaction
                                            parties involved for engaging directly
                                            with TISE from the outset in bringing
                                            this signifi cant sovereign issue to
                                            listing on the QIBM.”
                                            The bonds are rated Aa3 by
                                            Moody’s and were o ered under
                                            standalone documentation.
                                            Banco Santander S.A., Barclays
                                            Bank PLC and HSBC Bank plc
                                            acted as joint lead managers
                                            with international law fi rm   Anthony Byrne, Head of Bond Markets at TISE
                                            Dentons acting as lead counsel to
                                            the joint lead managers.          Cains Advocates Limited acted as lead Isle of
                                                                              Man Counsel to the Treasury on the transaction
                                            EY acted as Independent Financial Advisor.
                                                                              and Cains Listing Services Limited (CLSL), part
                                            Cli ord Chance LLP acted as Legal Advisor to   of the Cains Group has been appointed to act
                                             The Isle of Man Treasury team.   as listing agent for The Isle of Man Treasury in
                                                                              respect of the listing.
                                              Caldric Randall, Chief Financial O  cer at
                                              The Isle of Man Treasury, said: “We are very   Carolyn Gelling, Head of Equity Markets at TISE
                                               pleased to list these bonds on TISE. We   and lead in the Isle of Man for TISE, commented:
                                               have been delighted by the strength of   “With TISE having had a presence in the Isle of
                                                institutional demand for our debut issue   Man since 2017, we are extremely pleased to see
                                                of sustainable bonds. This demonstrates   this domestic sovereign bond list on TISE. This
                                                 that investors recognise the Isle of Man’s   further demonstrates the ecosystem which has
                                                 fi scal strength and, through our new   been built up in the Isle of Man around listings on
                                                  Sustainable Financing Framework,   TISE, which has brought a new revenue stream
                                                  the Government’s commitment   to the island from both local listings and those
                                                   to protecting and enhancing the   facilitated through local professional services
                                                    environment in the Isle of Man as   fi rms. Furthermore, it is a pleasure to be able to
                                                    well as investing in the community   assist in an issuance which is intended to bring
                                                     for the long term. I would like to   a range of environmental, social and sustainable
                                                     thank the team at TISE for their   benefi ts to the Isle of Man.”
                                                     responsiveness in ensuring a
                                                     smooth and e  cient listing.”
      Carolyn Gelling, Head of Equity Markets at TISE

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