The objective of Zeta’s Capital Markets team is to use our in-house expertise to develop tailored solutions that cater to our client’s specific financing needs. We are an independent provider of Special Purpose Vehicle (SPV) management, Agency and Trust services for capital markets transactions in the EU. We provide integrated service delivery in Malta, Ireland, Switzerland and Gibraltar.
Our Client Services and Advisory teams offer a single point of contact to manage your transactions seamlessly. Zeta’s Capital Markets team has significant combined experience advising clients on tailored Securitisation and Corporate Bonds services. We aim to use our expertise to enable you to achieve your strategy and objectives as efficiently as possible.
We support our clients with corporate bond issuance in Malta and Ireland and broader financing strategies across a wide range of debt structures. Zeta can assist and advise clients with the preparation of documentation, ensuring that clients are compliant with the listing obligations on an ongoing basis, per the respective regulatory framework on the IFSM market and in Ireland on the GEM market.
Issuers have access to a full suite of Zeta services to facilitate smooth deal execution. Zeta is proud to assist its corporate clients in fuelling growth through debt obligations.
The Institutional Financial Securities Market Malta
The Institutional Financial Securities Market (the IFSM) is the first fully-fledged Maltese market catering for the admission of wholesale-denominated debt securities. Various types of securities may be listed on the IFSM, including niche products such as debt securities, asset-backed securities, insurance-linked notes, convertible debt securities, and derivative securities.
The Maltese Listing Authority regulates the IFSM, namely the Malta Financial Services Authority (MFSA) under the Wholesale Securities Market (WSM) Listing Rules and is also an HMRC recognised Market.
The Global Exchange Market Ireland
The Global Exchange Market (GEM) was launched by the Irish Stock Exchange in June 2009 and is a recognised multilateral trading facility (MTF) under Europe’s Markets in Financial Instruments Directive (MiFID). Operated by Euronext Dublin (the Listing Authority) and authorised by the Central Bank of Ireland, and that caters for the admission to trading of asset-backed securities, convertible securities, debt securities and securitised derivatives (including securities in the form of certificates and warrants). These securities are usually purchased and traded by a select number of investors (professional investors) who have a sound knowledge and extensive experience in the investment sector.
The Prospects MTF is a multilateral trading facility (MTF) operated by the Malta Stock Exchange (MSE). The Prospects MTF provides a cost-effective opportunity for small and medium-sized enterprises (SMEs) to raise capital by issuing bonds or equity. Any Company that is considering admission to the Prospects MTF requires the services of a Corporate Advisor before and following the admission process. The role and involvement of a Corporate Advisor is to ensure that transparency and corporate governance efficiencies are achieved and retained.
Prospects MTF targets security issues of less than €5 million in value and it is important to note that this offer is not made to more than 150 legal or natural persons in any one Member State within the EU. Any other form of issuance will need to be listed on the Main Market. The admission and approval of admissibility to listing on the Prospects MTF is managed and regulated by the Malta Stock Exchange and the Listing Committee.
The Corporate Advisor acts as the intermediary between our clients and the relevant Authorities, assisting in the preparation and submission of documentation to the Malta Stock Exchange, while ensuring that clients remain compliant with all obligations on an ongoing basis for the duration of the security’s term.
In its role as a Corporate Advisor to prospective issuers on the Prospects MTF, and in line with Rules 3.01.09.05 and 3.01.09.06 of Chapter 3 of the Prospects MTF Rules, the Corporate Advisor declares that it will at all times:
- co-operate on a continuing basis with the Exchange towards demonstrating its compliance and that of its client Prospects MTF Companies with these Rules, as supplemented by orders or instructions issued by the Exchange from time to time;
- maintain independence, impartiality, objectivity, confidentiality and ethical standards ensuring that it can identify, mitigate and, if not possible to eliminate, disclose any conflicts of interests and how such conflicts are managed;
- maintain to the extent allowed, a process by which the Corporate Advisor or its Connected Person may invest or trade in securities issued by their client Prospects MTF Companies and the immediate disclosure of any such investment or trading therein; and
- maintain quality assurance in respect of its services to client Prospects MTF Companies.
Zeta provides a full suite of services for setting up, administering and managing securitizations and structured finance transactions for multiple underlying asset classes. Our experienced team of professionals assist you during the entire transaction cycle. Zeta assists its clients via its legal and tax advisors.
Our goal is to deliver the best service with the highest efficiency and the lowest risks. Zeta’s platform offers a multitude of services run by advisors who combine comprehensive experience and a pragmatic approach. We focus on providing bespoke solutions to maximised efficiency to our clients.
Malta, which is a booming centre for financial services, with an extremely hospitable tax regime, is highly experienced in delivering a broad spectrum of services related to the financial industries.
Malta offers the possibility of significant tax benefits to Special Vehicles (SVs). Under Maltese law, Originators have unique benefits. There is no onus on Originators to be authorised and/or licensed and no restrictions on the identity of the Originator. They can hold equity stakes in the SV, and enjoy bankruptcy remoteness for the SV.
Particularly attractive is the lack of limitation on what assets may be securitised, as long as it is an asset. The transactions or financial instruments issued by an SV need to be over €1,000,000. SVs have many other benefits and protections under Maltese law that are highly attractive to any party intending to undertake such a transaction.
Pomegranate SCC – Securitization Cell Company
Zeta operates a cell company to offer securitization services to any client interested in carrying out such transactions. Pomegranate SCC p.l.c. offers a comprehensive suite of services in the field of securitization. A team of acknowledged experts runs it, and it focuses on delivering the best service at the lowest cost in time and money. If you are seeking services related to securitization, contact us to see how we may be of service.