GIBRALTAR STOCK EXCHANGE LISTS FIRST DEBT SECURITIES

GSX is pleased to announce that it has listed its first Corporate Bond and its first Asset Backed Security.

On the 19th February, UK-based European Investment Grade Properties plc successfully listed a £50,000,000 5% Corporate Bond maturing 2023, with Castle Fund Administrators Limited acting as Listing Member.

EIGP Director Guy Saxton said:

“I have been a client of the Castle Trust Group for over 15 years and I previously ran a stock exchange for growth companies in London. I am so pleased to be a director of the first company to list a bond on GSX. The speed and quality I received from Castle was, by any standards, exceptional. It took just 9 and a half days from the moment I supplied the completed memorandum until listing”.

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On the 22nd February, Delta1 Securities listed an Asset Backed Exchange Traded Instrument (ETI) named Haack Performance Asset Backed ETI and is issuing up to €250,000,000 securities with Argentarius ETI Management Limited acting as Listing Member.

Herbert Hakala, Managing Director of PP-Asset Management GmbH, the asset manager managing the special investment vehicle underyling the ETI commented:

“The ETI structure perfectly fits our needs in terms of flexibility and time-to-market. Whereas the whole set-up process to launch took just two months, the listing at GSX itself was completed within a few days. The passporting opportunities into the whole EU are of significant value for us, as is the UCITS eligibilty of the ETI structure once listed at an EU-regulated market approved by ESMA, like GSX”.

GSX Managing Director, Nick Cowan commented “We are delighted to have achieved a number of firsts in 2016 already: the first prospectuses to be published in Gibraltar, the listing of our first Corporate Bond and the listing of our first Exchange Traded Instrument (ETI). In addition, it was Castle’s and Argentarius’s first listings on GSX. We also welcomed Kession Capital as a Class 1 & 2 Member Firm of GSX, our first UK-based Member firm and we also extended membership to Castle (moving from Class 1 to Class 1 & 2) giving them the ability to list both Funds and Debt. We also received recognition from ESMA as a regulated market. Most importantly though, was the fact that GSX, its Members and the Gibraltar regulator (the GFSC), were able to deliver a rapid and low cost solution to prospectus approval and listing debt securities for our clients.”

In January 2016, GSX, the Gibraltar Stock Exchange expanded its services to include the listing of Closed-ended Funds and Debt Securities including Corporate Bonds, Derivative Securities and Asset-Backed Securities.

The expansion is a key element of GSX’s strategy in complementing Gibraltar’s unique position within the EU and providing financing solutions to its clients seeking a gateway to Europe, particularly through the securitisation area.

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