Crystal Palace lists £7.65m. bond on TISE

NEW Premier League football stars could emerge thanks to a listing on Guernsey’s International Stock Exchange, which enjoyed a record-breaking first quarter of 2021.

Crystal Palace Football Club listed a £7.65m. bond on the exchange to help fund the construction and development of a new training academy. The Premier League team used a special purpose vehicle to list the bond that has a maturity date of January 2040.

The listing is one of a record number for the exchange in the first three months of 2021, including a string of other high-profile businesses.

Cruise operator British-American Carnival Corporation, US-headquartered car rental firm Hertz and footwear provider Schuh were among those listing bonds.

Overall, there were 225 newly-listed securities on TISE during the first three months of 2021 – more than any other first quarter since the inception of the exchange in 1998. It took the total number up by more than 2.3% from the end of December 2020 to 3,235 at 31 March 2021.

‘As we can see from the number of international brands who are choosing to list on TISE, we already offer a responsive, innovative approach that is very attractive to clients,’ said Cees Vermaas, chief executive officer of The International Stock Exchange Group.

‘We will be building on that through an improvement of our proposition with the aim of gaining market share as a leading European professional bond market. This is just one of several initiatives which we will bring to market during this year through a refinement in operations and an investment in technology.’

Meanwhile, the biggest global recycler of aluminium listed green bonds worth 500m. euros on TISE’s green market segment at the start of April. The net proceeds from the bonds listed by Novelis, which is a leading producer of flat-rolled aluminium products, will be used to finance eligible green projects such as investments in renewable energy as well as pollution prevention and control.

‘Such admission clearly demonstrates the attraction to both issuers and investors of a robust and credible market segment for green bonds,’ said Anthony Byrne, head of bond markets at The International Stock Exchange Group.

‘TISE Green raises the profile of, and facilitates the flow of capital into, initiatives which finance projects that protect or enhance the environment. A growing pipeline of enquiries indicates a continued flow of green and sustainable listings to the segment in the coming months.’

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