The “world’s first digital bond in a fully regulated environment” was issued last Thursday, marking the launch of the new digital exchange by Swiss operator SIX. The issuer: SIX itself.
“Today’s issuance is an extraordinary success, as this is the world’s first bond issuance with a pure digital part in a fully regulated environment,” SIX states in a press announcement released on the day.
Three banks acted as joint lead managers: Credit Suisse, UBS Investment Bank, and Zürcher Kantonalbank.
The press release lined out the setup behind the issuance.
“The bond comprises two exchangeable parts. The digital part (Part A) of the bond will be listed and traded on SDX Trading Ltd and centrally held by SIX Digital Exchange Ltd. The traditional part (Part B) of the bond will be listed and traded on SIX Swiss Exchange Ltd and centrally held by SIX SIS Ltd. This innovative approach ensures the link between the digital and traditional worlds,” SIX writes.