Page 9 - Bus365 Issue 10 2021 WEB

THE ISLE OF MAN TREASURY LISTS

£400M SUSTAINABLE BONDS ON TISE

The Isle of Man Treasury has listed £400 million sustainable bonds on The International Stock Exchange
(TISE).
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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