The International Stock Exchange (TISE) has welcomed WE Soda Investments Holding as the first issuer to be admitted its sustainable finance segment, TISE Sustainable, by virtue of an ESG rating.
WE Soda has listed its debut offering of $980m 9.5% senior secured notes due 2028 on TISE’s Qualified Investor Bond Market (QIBM) and the issuer has been admitted to TISE Sustainable.
WE Soda produces natural soda ash, which is widely used in the manufacture of glass, soap, paper, PV solar and lithium carbonate for electric vehicle batteries.
Anthony Byrne (pictured), Head of Bond Markets at TISE, said: “[This] represents the first admission of an issuer based on an ESG rating and in doing so, it demonstrates the continued growth and evolution of our sustainable segment.”
Joint global coordinators to the transaction are BNP Paribas, Goldman Sachs International and JP Morgan. Legal adviser to the issuer is Latham & Watkins.
The TISE Listing Agent is Appleby, which facilitated the listing on TISE and the admission to TISE Sustainable.