Ogier advises Joint Lead Managers in £500 million States of Jersey bond issuance

Ogier's Banking and Finance team in Jersey has advised the Joint Lead Managers (JLMs) in respect of the £500 million bond issuance by the States of Jersey.

The 2.875% bonds, which are due 2052, have been listed on The International Stock Exchange and are the States' first bond issuance since 2014. The proceeds of this first tranche of borrowing are being used to repay the past service pension liabilities of the Jersey Teachers Superannuation Fund and the Public Employees Contributory Retirement Scheme, as agreed in the island's Government Plan 2022-25.

Ogier, which has the largest dedicated Banking and Finance team of any international firm in Jersey, represented the JLMs which included Barclays Bank plc, HSBC Bank plc, Lloyds Bank Corporate Markets plc, and RBC Europe Limited.