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IoM Treasury lists £400m sustainable bonds on TISE

IoM Treasury lists £400m sustainable bonds on TISE

Friday 17 September 2021

IoM Treasury lists £400m sustainable bonds on TISE

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

The Isle of Man Treasury £400 million 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 eligible projects covered in the Sustainable Financing Framework include clean transportation, energy efficiency, affordable housing, education and healthcare.

HSBC acted as Sole ESG Structuring Advisor.

The bonds are rated Aa3 by Moody’s and were offered under standalone documentation.

Banco Santander S.A., Barclays Bank PLC and HSBC Bank plc acted as joint lead managers with international law firm Dentons acting as lead counsel to the joint lead managers.

EY acted as Independent Financial Advisor. Clifford Chance LLP acted as Legal Advisor to The Isle of Man Treasury team.

Carolyn Gelling, Head of Equity Markets at TISE and lead in the Isle of Man for TISE, said: “With TISE having had a presence in the Isle of Man since 2017, we are extremely pleased to see this domestic sovereign bond list on TISE.

“This further demonstrates the ecosystem which has been built up in the Isle of Man around listings on TISE, which has brought a new revenue stream to the island from both local listings and those facilitated through local professional services firms.

“Furthermore, it is a pleasure to be able to assist in an issuance which is intended to bring a range of environmental, social and sustainable benefits to the Isle of Man.”

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