Landmark $4.1 billion bonds listed on Guernsey-headquartered TISE

17 August 2018

CHMT Peaceful Development Asia Property Limited has listed US$4.1 billion of bonds on Guernsey-headquartered The International Stock Exchange (TISE).

The bond listing relates to the financing of the acquisition of Hong Kong’s fifth largest skyscraper, The Center, which is the world's most expensive real estate transaction for a single building to date.

The bonds were listed in two tranches, of approximately $3.3 billion Tranche A notes and $800 million Tranche B notes, with an 18-month maturity.

Fiona Le Poidevin, Chief Executive Officer of The International Stock Exchange Group, said it was hugely pleasing that TISE was chosen as the listing venue for such a significant and notable bond issuance.

“This provides yet further evidence that issuers and their advisers are increasingly viewing TISE as the exchange of choice for listing specialist debt securities and especially where there is an international dimension,” she added. “This is one of a number of Chinese-origin issuances we have seen coming to TISE recently and I am excited about the potential to grow this pipeline of business from Asia.”

The listing is just one of a growing number of examples of Chinese-originated business coming to the Channel Islands, which include captive insurance, investment funds and private wealth. These topics and more will be discussed at the Guernsey Finance China Update, which will take place at the OGH Hotel in Guernsey on Thursday 6 September. On-island members can learn the benefits of doing business in China from two experts on the region.

HSBC London-based Director of China and RMB Internationalisation Sue Anne Tay, who is part of the company’s global strategy function which drives China-related initiatives and China outbound business, will discuss trends and drivers shaping China’s outbound direct investment, introduce the objectives and progress of Belt and Road Initiative (BRI), discuss the cost and drivers of BRI and how corporates, services and financial institutions capitalise on the BRI.

Guernsey-based Alternative Risk Management Managing Director Charles Scott will also talk about the recent success his company has enjoyed in China, while GF China Representative Wendy Weng and Asia Pacific representative Dorothy Kwok will provide market updates and discuss their activities in their respective regions.

Those interest in attending can register here.

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