Jersey has experienced an increase in the number of migrations to the Island of issuers in collateralised loan obligation (”CLO”) transactions, with many structured so that outstanding notes are reset at the same time as the continuance-in takes effect.

A number of these same CLO issuers refinance the notes that were issued at the time of their migration.

As these structures often require the issue of a new consent, the Jersey Financial Services Commission (the ”Commission”) has issued a new checklist (the ”CLO Checklist”), which should greatly assist with streamlining all future CLO refinancing transaction applications.

Jersey has remained a leading international finance centre (IFC) for the past 60 years. Political and economic stability, coupled with our strong regulatory and legal framework and renowned forward-thinking, has helped us maintain the edge that sets us apart from other IFCs. 

To continue as a world leader in finance with the Jersey company remaining the vehicle of choice for international transactions, probably the most significant proposed amendments to our Companies (Jersey) Law 1991 (the ”Companies Law”) for over a decade have been put forward.

Jersey independent law firm, Lexstone Lawyers, has advised in connection with the full management buy-out of Brenwal Limited. The Lexstone team led by Howard O’Toole advised on all corporate aspects of the transaction. Howard said, “It was fantastic to work alongside members of the management team at Brenwal for the past few months. Understanding the company’s long-term objectives together with detailed preparation and planning were key to a successful completion. It’s an exciting time for the new owners and we wish them a very successful and rewarding future”.