SIX Issues the World’s First Digital CHF Bond

Credit Suisse, UBS Investment Bank and Zürcher Kantonalbank acted as the joint lead managers.

The Switzerland Stock Exchange (SIX) announced on Thursday that its SIX Digital Exchange successfully placed the first senior unsecured digital CHF bond. According to the press release, the total volume of the transaction was CHF 150 million, and its maturity was set for 2026 through SIX Group Ltd.

The exchange noted that the bond is split into two exchangeable parts: the digital and traditional parts held by SIX Digital Exchange Ltd and SIX SIS Ltd. The bonds will be repaid at their nominal value on the due date unless they are repaid prematurely or acquired and canceled, SIX noted.

“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. The offering was oversubscribed several times and attracted strong interest from a very broad institutional investor base in Switzerland – evidence of the fact that the SIX’s stakeholders appreciate its strong track record, its substantial cash generation, robust business model and potential for growth very positively,” SIX commented on the milestone achieved.

For this purpose, Credit Suisse, UBS Investment Bank and Zürcher Kantonalbank acted as the joint lead managers, SIX pointed out.

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“This is an innovative and historic transaction as it is the first of its kind in the world on a regulated and fully integrated digital exchange. The transaction was supported by key Swiss market participants and has demonstrated that the investor base is convinced of the innovative power of the Swiss financial market and of the supporting role of SIX in the transformation and development of the financial center,” Daniel Schmucki, CFO of SIX, highlighted.

SIX Metrics for October

Recently, SIX reported that its trading turnover reached CHF 92.6 billion, which is 14.1% down from the previous month, while the number of transactions dropped by 6.2% to a total of 4,853,176.

The report revealed that securities valued at CHF 5.6 billion changed hands on October 29, which was the highest volume for a single day.

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