Listing Services
Listing Debt on TISE – Isle of Man Listing Agent Services
Andco is a Listing Member of The International Stock Exchange (‘TISE’) and acts as Listing Agent for debt securities on the Qualified Investor Bond Market (‘QIBM’), TISE’s dedicated market for bonds.
We can:
- support the full transaction from SPV incorporation and administration through to listing, ongoing compliance, and corporate governance, meaning issuers and advisers deal with one firm, not several; or
- act as Listing Agent to international companies administered elsewhere.
With extensive experience and a highly personalised approach, we support clients through every phase of a TISE debt listing.
The QIBM is a dedicated bond market for qualified investors (institutional and experienced professional investors). The QIBM rulebook, has fewer prescriptive requirements, and a more proportionate disclosure regime, than larger European exchanges. TISE is responsive, with the TISE 3+1 Guarantee (three business days for initial review, one business day for subsequent submissions).
TISE is a Recognised Stock Exchange for HMRC purposes (the Quoted Eurobond Exemption), a Designated Offshore Securities Market under the US SEC, and an Approved Stock Exchange under BaFin. TISE-listed bonds are eligible investments for UCITS Funds.
Issuers often list debt on TISE to access the Quoted Eurobond Exemption. Under section 987 of the UK Income Tax Act 2007, interest on listed securities is exempt from UK withholding tax, where the debt is issued by a company, carries a right to interest, and is listed on a “recognised stock exchange”.
TISE is recognised by UK HMRC.
Ireland has a comparable exemption under section 64 of the Irish Taxes Consolidation Act 1997.
Most QIBM listings involve a special purpose vehicle. Andco can incorporate and administer SPVs, sponsor listings and provide registered office and agent services, company secretarial and corporate governance support, directors (where required), accounting and regulatory compliance services.
Working with Andco
Andco’s highly experienced team has been servicing clients for over 30 years, working with high-net-worth individuals, institutional investors, international entrepreneurs and family offices. We believe a thorough understanding of each client’s needs enables us to consistently provide the highest levels of service and support.
With our focus on delivering an exceptional and personal service, we are proud of the longstanding client and professional relationships we have built.
To discuss a QIBM listing or to explore whether the Quoted Eurobond Exemption applies to your structure, please contact us.
If you are an adviser with a client considering a TISE listing, we are pleased to discuss the process and indicative costs on a without-obligation basis.
