We Offer an Efficient Bond Listing and Hosting Service

We offer our bond listing services using our Gibraltar regulatory licence to companies and entrepreneurs looking to raise regulated and GSX-listed bonds. These are compliant with UK FCA’s financial services promotion regime and so can be passported to the UK and marketed to UK investors. All our bond listings are on the Main Market of the Gibraltar Stock Exchange (“GSX”) which is both a regulated market and an HMRC recognised stock exchange. Our bond listing this service is ideal for entrepreneurs and SMEs whether to finance working capital, business expansion or investment strategies: a fast and efficient service, it provides a regulated fixed income investment suitable for both experienced and institutional investors.

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Launched Bonds

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FAQs


What does RRFM’s bond listing service entail?

This is where a company appoints a hosting provider, such as Red Ribbon Fund Management, to provide all the structuring regulatory, operational support for the listing of a bond on the Gibraltar Stock Exchange – GSX.

Why launch a listed bond?

A listing on a regulated stock exchange like the Gibraltar Stock Exchange provides a higher level of investor visibility and increases the potential demand and interest in a bond. Many institutional investors, financial advisers (IFAs) and platforms require all their investments to be made in securities with an assigned ISIN that are listed on a Recognised Exchange or a Multilateral Trading Facility such as GSX.

Why list in Gibraltar?

Gibraltar is a British Overseas Territory with English Common Law as its legal system. It passed a new Financial Services Act in 2019 which increased its already close alignment with the UK’s FSMA financial promotion regime. This created a mini-single market between the two jurisdictions giving current passporting rights from Gibraltar to the UK making it the only territory on mainland Europe with unfettered access to the UK.

What are the benefits of Red Ribbon Fund Management’s bond hosting service?

We offer a fast-to-market, hosting service to launch a regulated and listed bond in 10 weeks on a fixed fee basis, starting at ca. £30,000. Over several years our experienced team has been honed to provide an efficient service taking advantage of the agile regulatory environment and the economies of scale of our operations team. We are able to leverage the established relationships and processes with our lawyers, with GFSC and GSX while liaising with 3rd party service providers such as administrators and listing member firms on a bond issuer’s behalf.

As a bond issuer do we need to be regulated?

No because our bond issuer clients take advantage of Red Ribbon Fund Management’s own regulated licence in Gibraltar. Under this Red Ribbon Fund Management is able to make its fund hosting platform service available for bond issuer clients who wish to offer raise debt capital.

Who is responsible for distribution of bonds to investors?

Issuers use their own distribution channels to communicate with investors. They continue to be responsible for explaining their corporate strategy to purchasers of their bonds and providing regular corporate updates to investors.

Can we distribute the bonds in the UK?

A listing on the Gibraltar Stock Exchange’s Main Market means that bonds can be passported into the UK. Gibraltar’s financial promotion legislation covering the offering of funds to experienced investors is deemed to be equivalent to the UK FCA’s regulatory infrastructure. As such there is in effect a mini-Single Market between the UK and Gibraltar which means that the territory is the only jurisdiction on Mainland Europe that offers unfettered access to the UK market.

Is there a secondary market on GSX?

No; Red Ribbon Fund Management provides a listing platform that allows bonds to be brought to the Main Market on the Gibraltar Stock Exchange so as to attract a wider audience – in the form of both experienced and institutional investors. A bond listed on GSX receives an ISIN which means that it can be invested in by investors such as pension funds who would otherwise be unable to buy such instruments. However, a GSX listing is otherwise only a technical one in that there are no secondary market prices or liquidity for the bond investors.

Who takes care of the regulatory functions?

The Red Ribbon Fund Management hosting platform delivers listed and regulated bonds that meets the full requirements of Gibraltar’s regulator, the Gibraltar Financial Services Commission and the listing rules of GSX – the Gibraltar Stock Exchange. Red Ribbon Fund Management’s responsibilities include liaising with our retained Gibraltar legal advisers, Triay Lawyers, to structure the bond. We ensure that this bond offering document is drafted in accordance with the Prospectus Regulations that govern financial promotion and GSX’s listing requirements.

Who is the Listing Authority?

The Listing Authority is the body responsible for the regulatory approval of listings and is completely independent from GSX. It is constituted by officers from the Financial Services Commission of Gibraltar.

All three types of funds will be provided under both our Gibraltar-licensed activities with a technical listing on GSX as well as via our AIFM platform partner in Luxembourg. The White Label Funds option is available exclusively via our Gibraltar listing infrastructure. Both our Gibraltar and Luxembourg routes-to-market offer capital raisers and fund managers a fixed fee, off-the-shelf, agile listing services that distinguishes us from the cost bases and speeds-to-market of larger capital markets/exchanges and the established investment house.

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