Discover News and Prices Raise finance Trade Personal investing Resources Home > Raise finance > Debt > How to list debt How to list debt How to listUseful assets 1 2 3 4 5 Choose a market Choose advisers Prepare an application Listing and admission to trading Post-listing reporting Step 1 - Choose a market London Stock Exchange offers a choice of markets for both UK and international companies looking to list debt. The size of the company, its growth objectives and funding needs will all which market is right for you. LSEG markets are home to thousands of companies, from start-ups to some of the world's largest corporations. Listing gives investors access to one of the world's deepest pools of liquidity. Main Market (MM) - The UK's principal regulated market for bond issuance and a globally recognised listing venue for domestic and foreign issuers, including a number of sovereigns. Bonds admitted to trading on the MM are also admitted to the UK Listing Authority’s Official List. International Securities Market (ISM) - The ISM is an exchange-regulated market providing an efficient and transparent listing process with rapid turnaround times. The dedicated and knowledgeable debt specialist team are able to offer competitive turnaround times to accommodate issuer priorities. As an exchange-regulated market, the UK Listing Rules and the Prospectus Regulation are not applicable to ISM; issuers must comply with the requirements set out in the ISM Rulebook. Visit Compare our debt markets page for help deciding which market best suits your company’s needs Step 2 - Choose advisers Getting the selection of your external team right is one of the most important steps in raising financing in the public capital markets. In the first instance, you will need to appoint legal counsel and underwriting banks. A good starting point is to consult your existing advisers. Many companies hold a ‘beauty parade’ of specialists to determine who has the appropriate experience and understanding of your business model. You should agree a realistic timetable with your advisers, agreeing who is responsible for each aspect of the work. When appointing advisers you should also clarify areas of responsibility in advance and negotiate costs. Step 3 - Prepare an application Listing debt on LSEG involves preparing either admission or listing particulars, or a prospectus compliant with the appropriate rules. As part of the prospectus issuers will need to provide, among other things, detailed financial statements as well as the terms and conditions relating to the security and information on recent developments. Appointing an experienced team of professionals helps deliver a complete listing document. It is not mandatory for issuers to seek specialist services before lodging an application, but we recommend appointing an experienced legal advisor to guide you when drawing up a prospectus. Step 4 - Listing and admission to trading Different markets have different levels of regulation, which in turn require different application processes. Companies need to apply to the regulator to raise capital (in some cases this will be the FCA and in other cases the regulatory function is carried out by LSEG) and to London Stock Exchange to be admitted to trading. Your advisers will guide you through this process. Using an appropriate adviser is essential in ensuring you meet all the listing requirements. They can also help you prepare an application, ensuring you complete the relevant forms, documents and prospectus. Which market you choose determines the route of submission. Take a look at our Compare our debt markets table to see which market is right for you. Step 5 - Post-listing reporting Life on the public market can be very different from previous practice for most companies. For instance, publishing an annual report and disclosing material information to the market are two key continuing obligations for all London Stock Exchange-listed companies. Following admission to a public market, companies are subject to a range of disciplines and requirements. These can be broadly divided between the legal and regulatory requirements, representing the continuing obligations that all quoted companies must meet; and market-driven disciplines and activities, which are not compulsory, but which are advisable and even necessary in order to gain the maximum benefit from your listing. Take a look at the Resources section to find out more about rules relating to ongoing obligation. Admission and disclosure standards document Explore Market latest View live data Looking to invest in bonds? Learn more Advanced bond search Learn more Our products Learn more Welcome stories Find out about companies we have welcomed to our markets 30.04 London Stock Exchange welcomes Bank of China celebrating the listing of USD 2.2 Billion of Sustainable Bonds The General Manager of Bank of China Limited London Branch and Chief Executive Officer of Bank of China (UK) Limited this morning opened the market at the London Stock Exchange to mark the listing of USD 2.2 Billion of Bank of China Sustainable Bonds. The bonds included outstanding Blue, Transition, and Biodiversity bonds, along with the recent ground-breaking and innovative Sustainability Re-l Learn more London Stock Exchange welcomes Industrial and Commercial Bank of China’s multi-currency green bond to the Sustainable Bond Market Industrial and Commercial Bank of China has listed its multi-currency carbon neutrality-themed green bond on the London Stock Exchange. The US$3.23bn equivalent security was issued by ICBC’s Singapore, Hong Kong, Luxembourg, London and Macau branches. At this time this is the largest ever corporate bond to be listed on London Stock Exchange Group’s Sustainable Bond Market. Learn more London Stock Exchange Welcomes Invesco celebrating the launch of Nasdaq-100 ESG UCITS ETF Today, London Stock Exchange welcomes Invesco for the newest addition to the Invesco Nasdaq Innovation Suite, a new Environmental, Social and Governance (ESG) ETF: the Invesco Nasdaq-100 ESG UCITS ETF. Learn more 74.04 London Stock Exchange welcomes Phoenix Group Holdings plc celebrating the acquisition of ReAssure Group plc On 22 July Phoenix Group plc completed the acquisition of ReAssure Group plc from Swiss Re Group. The transaction is another significant milestone on Phoenix’s growth journey and has established Phoenix as the largest long-term savings and retirement business in the UK with circa £300 billion of assets under administration and circa 14 million policies. The acquisitio Learn more Still have questions on how to list debt? Enquire Subscribe to receive updates DisclaimerPrivacy and cookie statementConflict of interest policy & UK bribery actAccessibilitySitemapContactSection 172 (1) statementWhistleblowing View our other sites Select © 2021 London Stock Exchange. All rights reserved. Cookie Control London Stock Exchange uses cookies to improve its website. We use necessary cookies to make our site work. We would also like to set optional cookies to improve our site and bring you more features. For more information on how we use cookies, please see our cookie policy. View our privacy and cookie policy (Opens in a new window) Cookie Control Link Icon Accept all Choose cookies