Africa Finance Corporation (AFC) has issued a five-year digital bond worth 350 million Swiss francs, or about $431 million, through Switzerland’s SIX Digital Exchange. According to the report cited by Techub News, AFC said the deal makes it the first African institution to issue this type of bond through a regulated exchange and a central securities depository.
The bond carries a 1.4925% coupon, and 90% of investor demand came from Swiss domestic accounts. AFC described the transaction as its fourth Swiss franc bond sale and its largest one so far in that currency.
The proceeds will be used to finance infrastructure projects in Africa. The bond exists as a tokenized security, with ownership records maintained using distributed ledger technology. The transaction was arranged by Commerzbank and Deutsche Bank. The report was attributed to crypto.news.
Africa Finance Corporation (AFC) has issued a five-year digital bond worth 350 million Swiss francs, or roughly $431 million, through Switzerland’s SIX Digital Exchange.
The sale makes AFC the first African institution to issue this type of bond through a regulated exchange and a central securities depository. The bond carries a 1.4925% coupon, while 90% of investor demand came from Swiss domestic accounts.
AFC said the issuance was its fourth Swiss franc bond transaction and its largest in that currency to date. Proceeds from the deal will be used to finance infrastructure projects across Africa.
The bond was issued as a tokenized security, with ownership records maintained on distributed ledger technology. Commerzbank and Deutsche Bank arranged the transaction.
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