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ARTICLE · 26 JULY 2021

Listing Variable Funding Notes (VFNs) On The International Stock Exchange

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This article provides a summary of Appleby listing agent services in the Channel Islands, and also offers an introduction to listing Variable Funding Notes (VFNs) on The International Stock Exchange ("TISE").

JerseyFinance and Banking
Christophe Kalinauckas
Christophe Kalinauckas
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This article provides a summary of Appleby listing agent services in the Channel Islands, and also offers an introduction to listing Variable Funding Notes (VFNs) on The International Stock Exchange ("TISE").

Appleby Securities (Channel Islands) Ltd (“Appleby”) and TISE work together on a significant number of listings of securities on TISE.

One recent theme is a growing trend to list Variable Funding Notes (VFNs).

VFNs are notes that are issued under a note instrument, where the principal balance thereof may increase or decrease from time to time.

Where the number of VFNs that are issued increases or decreases, this requires a notification to TISE for a further listing of notes, or a partial delisting of notes.

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