After its long wait for a license, the Swiss Digital Exchange has finally gone live. Its parent company remains its biggest backer.
Switzerland's digital exchange, or SDX, launched its first digital bond with a total volume of 150 million Swiss francs ($162 million), it said in a statement. The unsecured digital bond matures in 2026 and carries an 0.125 percent annual coupon.
The digital part of the bond will be listed and traded on the SDX. The traditional part of the bond will be listed and traded on the Swiss Exchange and centrally held by Switzerland's national Central Securities Depository. Two-thirds, or 100 million francs, of the total issuance will be allocated to the digital part.
Investor Interest
The net proceeds from the placed bond will go towards «general financing purposes» of the group. «This transaction marks the beginning of a new era,» Thomas Zeeb, SDX chairman, said in the statement.
SDX said the offering was oversubscribed several times and attracted strong interest from a broad-based institutional investor base in Switzerland. Banks Credit Suisse, UBS, and Zuercher Kantonalbank joint lead managed the bond issue.
