Collateralised Loan Obligations (CLOs) | TISE

Collateralised Loan Obligations (CLOs)

A unique offering for listing CLOs

As a globally recognised stock exchange and uniquely positioned European listing venue, TISE provides a bespoke offering for listing warehouse financings, CLO transactions and refinancings via our dedicated Qualified Investor Bond Market (QIBM).

Our purpose-built CLO offering is tailored to the needs of market participants and means that we are a hugely attractive market for the efficient listing of US and European CLO transactions.

Why TISE for CLOs?

Unique European listing venue (Non-EU / Non-UK)

TISE is an independent European listing venue uniquely positioned outside of the EU & UK Prospectus, Market Abuse, Transparency and Securitisation Regulations. We provide a dedicated, all-inclusive rule book which sets out a proportionate disclosure regime for all bond products and structures, including CLO, via our uniquely positioned QIBM.

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Globally recognised stock exchange

TISE is a ‘Recognised Stock Exchange’ (UK & Irish Quoted Eurobond Exemption), ‘Designated Offshore Securities Market’ (US SEC), ‘Approved Stock Exchange’ (German BaFin) and holds industry memberships of AFME, ICMA, IOSCO and the UN SSE.

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Qualified Investor Bond Market (QIBM)

QIBM is wholly dedicated to listing bonds offered solely to Qualified Investors (institutional investors, professional investors & other investors experienced and knowledgeable in investing in bonds). More than 2,000 issuers from 35 countries now list over 3,500 bonds, including CLO related issues, on QIBM. There are no minimum denomination stipulations associated with a listing on the QIBM.

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Guaranteed review timelines

Our market facing listing team guarantees review timelines for applications (3+1) as standard in order that issuers and their advisors can plan their European bond listing with speed and certainty. We commit to conduct an initial review of listing applications within 3 business days of first submission and within 1 business day of any subsequent submission(s). On request and specific to CLO applications, TISE will accommodate a 2+1 guaranteed review timeline.

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Competitive pricing

We offer one-off ‘lifetime’ payment solutions that can save CLO transactions significant sums on both listing and administration costs versus other European listing venues. We offer a single £10,000 ‘Lifetime’ fee per CLO transaction, irrespective of the number of tranches listing, amounts issued, duration of the bonds, or number of co-issuers on the deal. Thereafter, TISE listed CLO transactions which delist for the purpose of refinancings are only charged £5,000 in the event of a new application to list a refinanced deal.

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TISE Sustainable

TISE offers Europe’s most comprehensive sustainable market segment, enabling the flow of capital into investments that promote environmental, social, or sustainable activities. With a straightforward application process and no additional fee, the segment is available to all TISE-listed issuers and securities which demonstrate their qualifying credentials. As ESG concerns increasingly become more central to the CLO market TISE will continue to adapt its sustainable offering accordingly.

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International listing agents

CLO listing applications to TISE can be submitted via our extensive network of international bond listing agents which includes leading Guernsey, Jersey, Isle of Man & Dublin based law firms and corporate service providers.

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All-inclusive proposition

Our operating jurisdictions provide an all-inclusive proposition for US and European CLO transactions. This includes the incorporation of securitisation special purpose entities (SSPEs), associated legal work, administration, corporate and fiduciary services, all of which is complimented by access to TISE, one of Europe’s leading stock exchanges for international bond listings.

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Download information on our CLO proposition here.

How to List Bonds on TISE

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

Europe’s most comprehensive sustainable market segment, enabling the flow of capital into investments that promote environmental, social or sustainable activities.

Sustainable

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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