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ARTICLE · 30 APRIL 2021

Guernsey's Expertise Praised As First Cuban-focused Bonds Listed On TISE

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The quality of financial services provision in Guernsey has again been highlighted as a Guernsey-registered closed-ended investment scheme became the first Cuban-focused investment trust...

GuernseyFinance and Banking
Guernsey Finance
Guernsey Finance
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The quality of financial services provision in Guernsey has again been highlighted as a Guernsey-registered closed-ended investment scheme became the first Cuban-focused investment trust to list convertible bonds on The International Stock Exchange (TISE), which is headquartered in the island.

CEIBA Investments Limited has a primary focus on Cuban real estate assets and has issued €25 million 10% senior unsecured convertible bonds due 2026. The proceeds of the issue will finance the completion of further tourism-related and commercial property projects in Cuba.

Chairman of the Board of Directors of CEIBA John Herring said: "TISE is well known as a recognised stock exchange which offers a proven, efficient route to market for convertible bonds and we were very pleased with the service from our administrator, JTC, our legal adviser and listing sponsor, Carey Olsen, and the team at TISE in relation to this listing." 

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