Who Can List Debt Securities?

Who Can List Debt Securities?

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In general, debt securities issued by companies which are nationals of a jurisdiction which is a GSX Recognised State are welcome to apply for admission to the Gibraltar Stock Exchange Main Market or Global Market in accordance with the respective Listing Code for Debt Securities.

All debt securities seeking admission to the Main Market must publish a prospectus that has the prior approval of the Home Member State and complies with the EU Prospective Directive. GSX has published a Prospectus Handbook for Debt Securities, which helps prepare the prospectus.

The Listing Codes for Debt Securities allows for the listing of the following securities:

  • Bonds
  • Asset-Backed Securities
  • Derivatives Securities

Please refer to the Listing Codes for formal definitions, restrictions, and criteria.

The Listing Codes for Debt Securities offers issuers with a range of structuring and listing solutions to meet their needs, for example:

  • Small to Medium Sized Enterprises: diversifying capital through issuance of bonds
  • Reinsurance companies: listing of catastrophe bonds, insurance-linked securities, and other collateralised vehicles within the EU
  • Asset Managers: raising visibility within the EU

Once listed on either the Main Market or the Global Market, an applicant must continue to comply with all the requirements of the GSX Listing Code for Debt Securities:

  • If applicable, annual accounts must be made public within 4 months of year-end, half-yearly within 3 months (if applicable)
  • Any changes to rights
  • Dissemination of information equally to all holders of securities