Standard Chartered has issued US$200 million of three-year floating-rate digitally native notes through Euroclear’s Digital Financial Market Infrastructure (D-FMI). A press release states that the issuance makes Standard Chartered the first global systemically important bank (G-SIB) and first UK issuer to issue on the infrastructure.
The notes were issued using distributed ledger technology. They have been submitted for admission to trading on the London Stock Exchange’s International Securities Market, with Standard Chartered acting as sole dealer.
Digital issuance and existing infrastructure
Euroclear’s D-FMI supports the issuance of digital international securities while maintaining connections to existing issuance, settlement and servicing processes.
“This transaction reflects our continued focus on modernising the Bank’s funding capabilities,” said Vikash Mistry, Standard Chartered’s deputy group treasurer.
Euroclear chief business officer Sebastien Danloy said the transaction demonstrates how “digitally native issuance can be seamlessly integrated into Euroclear’s financial market infrastructure.”
The transaction builds on Standard Chartered’s previous involvement in digital debt transactions, including an AED 1 billion digitally native bond issued on Euroclear’s D-FMI by Emirates NBD.
