06 Feb 2024

TISE welcomes first ESG-rated issuer to sustainable segment  

The International Stock Exchange (TISE), headquartered in Guernsey, has welcomed its first issuer to its sustainable finance segment, TISE Sustainable, by virtue of an ESG rating.  

WE Soda Investments Holding Plc has listed its debut offering of USD980,000,000 9.5% Senior Secured Notes due 2028 on TISE’s Qualified Investor Bond Market (QIBM) and the issuer has been admitted to TISE Sustainable.  

WE Soda is the global leader in the production of natural soda ash – one of the most widely used commodities in the world, for example in the manufacture of glass, soap, paper, PV solar and lithium carbonate for electric vehicle batteries. The group prides itself as a leader in operating and producing soda ash in the most sustainable manner possible and is committed to operating in an environmentally and socially responsible way.   

Anthony Byrne, Head of Bond Markets at TISE, said: “We are delighted to welcome WE Soda’s debut $980 million bond issuance to listing on our Qualified Investor Bond Market (QIBM) and the admission of the issuer to our sustainable finance segment, TISE Sustainable. It is particularly pleasing that it represents the first admission of an issuer based on an ESG rating and in doing so, it demonstrates the continued growth and evolution of our sustainable segment. I would like to sincerely thank all the parties involved for their contribution to this transaction.”  

TISE Sustainable provides a comprehensive and reputable segment of the Official List, supporting the flow of capital into investments that promote environmental, social or sustainable activities. Admission to TISE Sustainable requires an issuer to evidence that they meet certain qualifying criteria relating to environmental, social or sustainable frameworks or ratings.   

The Joint Global Coordinators to the transaction are BNP Paribas, Goldman Sachs International and J.P. Morgan. Legal advisers to the issuer are Latham & Watkins and the TISE Listing Agent is Appleby, who facilitated the listing on TISE and the admission to TISE Sustainable.