Bond programmes | TISE

Bond Programmes

50 new bond programmes listed securities on TISE during 2021-2023. 86 bond programmes are listing 403 securities via final terms and drawdown documents on TISE at the end of 2023.

Programme issuers include Barclays Bank, Bank of Montreal, Blackstone, Frontera Capital Group, GB Social Housing, Société Générale and Willis North America.

TISE Approved Programme

A bond programme reviewed and approved by TISE and subject to a £5,000 fee. There is no requirement for annual programme updates at TISE.

TISE Passport Programme

A pan-European, fast-track listing service available for those bond programmes already approved by a national competent authority within the EEA or UK. We will accept a pre-vetted bond programme where it has been wrapped with our templated TISE Passport Letter. The completed TISE Passport Letter and corresponding bond programme together constitute a TISE Passport Programme for the purposes of listing via final terms on TISE. We will provide same day approval of a TISE Passport Programme if passported/received by 12:00. There is no fee associated with a TISE Passport Programme.

Drawdown Document

Reviewed per our TISE Guarantee (3+1) and subject to a one-off ‘lifetime’ fee of £1,000.

Final Terms

We commit to same day listing when the final terms of a specified bond issued under a programme are received prior to 12:00. Final terms issued under programmes are £1,000 per bond listed irrespective of product type, duration or amount issued.

How to List Bonds on TISE

The submission process

The procedure for listing comprises four stages

1. Satisfying Listing Conditions

Before an application to list a security is considered for submission to TISE, the appointed Listing Agent is required to vet the application against certain conditions for listing prescribed within the QIBM Listing Rules.

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2. Application for Listing

The applicant, through its appointed Listing Agent, must submit certain documents as required by the QIBM Listing Rules. Documentation requirements include a Listing Document (which can also take the form of an existing published prospectus, offering memorandum or equivalent document) together with supporting documentation such as accounts or certain material contracts (where applicable) as well as the TISE 1 Form & Listing Agent’s Declaration.

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3. Approval

All applications for listing will be processed by the team in our Listing Department. Once satisfied with an application they will submit a report, including their recommendations to TISE’s Listing and Membership Committee (LMC) for the LMC’s consideration.

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4. Listing

If the LMC approves the application, the Listing Document is then filed and the securities are admitted to the Official List. 

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Key reference points

The key points of reference for the listing process:

Appoint a Listing Agent 

A listing application must be made via one of our dedicated listing members

View our Listing Agents

Listing Rules 

We provide a dedicated all-inclusive rule book which sets out a proportionate disclosure regime for all bond products & structures

View our QIBM Listing Rules

Listing Fees 

We offer payment solutions that can save issuers significant sums on both listing & admin costs versus other European listing venues

View our QIBM Listing Fees

Continuing Obligations 

Post listing continuing obligations can be located at chapter 3 of the QIBM Listing Rules

View our QIBM Continuing Obligations

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TISE is one of Europe’s leading stock exchanges for international bond listings providing compelling differentiators when compared with other European listing venues.

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