Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013
GSX Nick Cowan

20121

Gibraltar Stock Exchange lists first debt securities

RELATED TOPICS​

The Gibraltar Stock Exchange (GSX) has listed its first Corporate Bond and its first Asset Backed Security. On 19 February, UK-based European Investment Grade Properties (EIGP) successfully listed a GBP50,000,000 5 per cent Corporate Bond maturing 2023, with Castle Fund Administrators Limited acting as Listing Member.

EIGP Director Guy Saxton, says: “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”.
 
On the 22 February, Delta1 Securities listed an Asset Backed Exchange Traded Instrument (ETI) named Haack Performance Asset Backed ETI and is issuing up to EUR250,000,000 securities with Argentarius ETI Management Limited acting as Listing Member.
 
Herbert Hakala, Managing Director of PP-Asset Management, the asset manager managing the special investment vehicle underyling the ETI, says: "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 (pictured), says: “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. 

Latest News

RQI Investors, an Australian-based active quantitative equities manager and part of the First Sentier Investors..
UK-based wealth management companies London & Capital and Waverton have announced that they have reached..
Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence..

Related Articles

British pound coin
Fixed income’s return to favour following widespread interest rate rises has led to investors overcrowding sterling investment grade credit, delegates at the Pensions and Lifetime Savings Association investment conference have heard...
Fixed income’s return to favour following widespread interest rate rises has led to investors overcrowding sterling investment grade credit, delegates..
Sustainable Economy Top Panel
Europe is driving the growth in sustainable investment with global assets under management in ESG-labelled funds passing USD2.8 trillion...
Europe is driving the growth in sustainable investment with global assets under management in ESG-labelled funds passing USD2.8 trillion...
Pension funds
UK institutional investors are questioning the value of investing in private markets despite pressure from government to finance the country’s net zero and levelling up ambitions...
UK institutional investors are questioning the value of investing in private markets despite pressure from government to finance the country’s..
Juan Nozal, Mapfre Asset Management
Juan Nozal, Fixed Income Portfolio Manager at MAPFRE Asset Management, talks about the outlook for fixed income assets over 2024, in what he predicts will be an outstanding year for this asset class...
Juan Nozal, Fixed Income Portfolio Manager at MAPFRE Asset Management, talks about the outlook for fixed income assets over 2024,..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by