Cains’ top tier Corporate and Commercial team recently acted as lead Isle of Man counsel on the successful amendment and restatement of up to £25,000,000 fixed rate bond agreement listed on TISE.

The bonds, issued by Amber Quay Limited, were originally admitted to the Official List of TISE (the “Exchange”) on 5 December 2018 with an additional issue of £12,500,000 fixed rate bonds due 8 August 2022 listed on the Exchange on 7 May 2019.

As a result of the amendment, the maturity date of the bonds has been extended to 4 December 2022 and the extended margin payable in respect of the bonds will now be payable from 4 June 2020.

The Cains team comprising Managing Associate Stephanie Chew and Associate Kirsten Middleton advised the bondholder on all Isle of Man aspects of the transaction.