A&O Shearman advises on Wise plc’s EMTN programme and inaugural notes issue

The programme was established on November 13, 2025, and Wise immediately announced their intention to complete a transaction under the new programme. Following a very successful investor roadshow, Wise was able to complete an inaugural issue of GBP250 million with the notes being listed on the London Stock Exchange’s International Securities Market.

Tom Grant, global financial markets partner at A&O Shearman said: “This debut bond issuance is a notable milestone for Wise and an important signal for the broader fintech sector. Establishing an EMTN platform gives Wise a flexible, repeatable route to access the debt capital markets as its financing needs evolve. We are pleased to support our long-standing client J.P. Morgan and the wider syndicate on a transaction that underscores the maturity and resilience of the sector.”

A&O Shearman’s team was led by partner Tom Grant with senior associate Louise Mitchell. Partner Luke Lewis and associate Elizabeth Denny advised the trustee. The firm advised J.P. Morgan and the other banks in their roles as dealers and joint lead managers, as well as the trustee.

The transaction spans multiple jurisdictions, with the issuer and certain guarantors in the UK, Belgium, and the U.S. (Delaware).