QIBM Fees

Notes

†Investment Grade Corporate Bonds: Includes plain vanilla bank and company bonds (investment grade/non high yield).

*Lifetime Fee: The Lifetime Fee incorporates the Initial Application Fee, the first and subsequent Annual Fees and the Formal Notice fee, per application submitted. Should a bond redeem earlier than its scheduled maturity, the Lifetime Fee will also cover associated Delisting Fees. For the avoidance of doubt, the Lifetime Fee does not cover any subsequent new classes which were not pre-empted in the initial application, further issues, partial redemptions or other administrative fees & charges.

‡Specialist Debt Securities: Includes all Convertible Bonds, Depository Receipts, Derivative Bonds, Digital Assets, Preference Shares, Warrants issued on standalone basis.

^ Short Term Paper: Commercial paper & certificates of deposits that are issued for a term of less than 1 year.

Issuer Application Fee: Subsequent applications by a TISE listed issuer are exempt from paying an additional Issuer Application Fee.

Co-Issuers: Only one Issuer Application Fee, class application fee(s) and one Formal Notice Fee is levied for the initial application. Annual Fees are charged per class at £1,600 for the first Issuer and £500 for each of the other Co-Issuers.

TISE Sustainable: There are no additional fees associated with an admission to the TISE Sustainable segment.

Appeals Process: A minimum fee of £5,000 will be charged (in advance) for an appeal to be conducted. For further information please see section 5 of ‘Operational Matters’ in the Qualified Investor Bond Market Rules

Terms and Conditions

1. The Initial Application Fee, first Annual Fee and Formal Notice Fee or Lifetime Fee invoice (as applicable) must be settled by 12:00 on the required application approval date. On the rare occasion where an invoice has been settled and the application is subsequently withdrawn and/or fully cancelled prior to application approval, a full refund will be provided.
   
   
2. The Lifetime Fee incorporates the Initial Application Fee, the first and subsequent Annual Fees and the Formal Notice fee, per application submitted. Should a bond redeem earlier than its scheduled maturity, the Lifetime Fee will also cover associated Delisting Fees. For the avoidance of doubt, the Lifetime Fee does not cover any subsequent new classes which were not pre-empted in the initial application, further issues, partial redemptions or other administrative fees & charges.
   
   
3. The CLO Lifecyle Fee is payable at the Warehouse listing stage and provides the issuer with a set of prepaid options which remain available to the subsequent full CLO Transaction and/or any future Refinancing. Following the listing of a Warehouse at TISE, transaction parties are not obligated to list subsequent deal stages (CLO Transaction and/or Refinancing) at TISE; prepaid options remain fully available however to use at the decision-maker’s discretion.
   
   
4. The Authority shall not issue any grant of listing to any application in respect of which fees remain outstanding and due for payment by an Issuer. The only exception(s) to this rule is fees for the listing of Final Terms and pre-empted classes of existing Issuers may be received within 30 days of the invoice date.
   
   
5. All fees and charges raised post-admission must be settled within 30 days of the invoice date unless stated otherwise. The Authority reserves the right to suspend the listing of any of an Issuer’s securities in the event of late or non-payment of such fees or charges.
   
   
6. All fees and charges raised post-admission are non-refundable and payable in full irrespective of any subsequent suspension, or delisting, of the listing.
   
   
7. All fees and charges are raised in GBP and must be settled in GBP only.
   
   
8. Any bank charges levied must be incurred by the remitter.
   
   
9. An Issuer shall be obliged to pay all fees and charges which are owing to the Authority in accordance with the Authority’s Listing Rules and, for the avoidance of doubt, any prospective Issuer (in respect of which an initial application for listing has been submitted) shall be responsible for and shall procure the payment of all application and other fees in accordance with these Terms and Conditions.
   
   
10. These Terms and Conditions and any disputes or claims arising out of, or in connection with, their subject matter or formation (including non-contractual disputes or claims) are governed by, and construed in accordance with, the laws of the Island of Guernsey.
    
    
11. Subject to condition 12 below, the courts of Guernsey shall have exclusive jurisdiction for the purpose of hearing and determining any suit, action or proceedings and/or to settle any disputes in respect of fees or charges or otherwise arising out of or in any way relating to these Terms and Conditions or their formation or validity (Proceedings) and for the purpose of enforcement of any judgment against the property or assets of an Issuer.
    
    
12. Nothing in condition 11 above shall (or shall be construed so as to) limit the right of the Authority to take Proceedings against an Issuer in the courts of any country in which the Issuer has assets or in any other court of competent jurisdiction nor shall the taking of Proceedings by the Authority in any one or more jurisdictions preclude the taking of Proceedings by the Authority in any other jurisdiction (whether concurrently or not).