The Channel Islands Stock Exchange ("CISX"), which is based in Guernsey, commenced operations in October 1998, since when it has approved over 4,000 securities for listing with a total market capitalisation of over US$50 billion.
Some of the strengths of the CISX are competitive pricing, responsive and approachable market authority that meets daily to consider its applications for listings, a highly personalised approach, international standards of issuer regulation, enhanced marketability and added value service, as well as a premier location.
The first exchange to list a Eurobond was the Luxembourg Stock Exchange (Bourse de Luxembourg) Regulated Market ("LuxSE") back in 1963. Since then, the listing of such debt securities has continued to increase in popularity (particularly for intra-group loan arrangements), with exchanges such as the LuxSE and the Cayman Islands Stock Exchange ("CSX") being some of the more favoured facilities.
Although relatively new to the marketplace when compared to other exchanges, the CISX is quickly growing in popularity. It concentrates on specific core products, including specialist securities such as Eurobonds, it is therefore able to provide a highly focused and responsive service. As such, not only is the CISX comparable to the likes of the LuxSE and CSX for the listing of Eurobonds, but it is quickly becoming the preferred exchange for many issuers.
Below is a summary of some of the important factors when considering listing Eurobonds on the CISX, CSX or LuxSE.
Footnote
*Collas Crill Corporate Finance Limited, a member of the Collas Crill group, is a full listing member of the CISX and is able to act as sponsor for all listing purposes.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.