British bank, Sainsbury’s Bank plc, lists £175m notes on GEM
Sainsbury’s Bank plc has listed on the Global Exchange Market (GEM) of the Irish Stock Exchange (ISE) for the first time with issuance of £175m notes. The notes, with a 6% interest rate, have a maturity date of November 2027.
About Sainsbury Bank plc
Sainsbury’s Bank plc (the Bank) is the UK's first supermarket bank. It is a wholly owned subsidiary of British supermarket chain Sainsbury. The Bank opened in 1997 and offers an award-winning range of financial products with attractive rewards for Sainsbury's shoppers.
The list of financial products offered include credit cards, savings and loans, as well as mortgages, travel money and car, home, pet, travel and life insurance.
ISE offers issuers choice of two bond markets
The ISE offers two bond markets, the Main Securities Market (MSM) and the GEM, which are recognised under EU legislation as a ‘regulated market’ and a ‘multilateral trading facility (MTF)’ respectively, enabling global issuers to access EU investors.
ISE is #1 venue worldwide for listing bonds
October 2017 statistics published by the World Federation of Exchanges show the ISE is the leading exchange in the world for total bonds listings (30,601 listings) and the leading exchange for new bond listings year to date (8,348).