Isle of Man Treasury lists £400m sustainable bonds on TISE

Posted: 15/09/2021

The Isle of Man Treasury has listed £400m sustainable bonds on The International Stock Exchange (TISE).
 
The 1.625% sustainability notes due 2051 have been listed on TISE’s Qualified Investor Bond Market (QIBM) and admitted to its sustainable market segment, TISE Sustainable.
 
The issuance is in line with the Isle of Man government’s newly established Sustainable Financing Framework, which covers projects for clean transportation, energy efficiency, affordable housing, education and healthcare.

HSBC acted as sole ESG structuring adviser.

The bonds are rated Aa3 by Moody’s and were offered under standalone documentation.
 
AnthonyByrne_TISE_jan21Banco Santander, Barclays Bank and HSBC Bank acted as joint lead managers, with international law firm Dentons acting as lead counsel to the joint lead managers.
 
EY acted as independent financial adviser, with Clifford Chance as legal adviser to the Isle of Man Treasury team.
  
Cains Advocates acted as lead Isle of Man Counsel to the Treasury on the transaction and Cains Listing Services has been appointed as listing agent for the Isle of Man Treasury in respect of the listing. 

Anthony Byrne (pictured), Head of Bond Markets at TISE, commented: “This listing is another milestone in the ongoing growth of TISE as a major European market for professional bond issuances, including those supporting environmental, social and sustainable initiatives.”

 


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