Africa Finance Corporation has issued a CHF 350 million digital bond, worth about $431 million, through SDX, the digital exchange platform of SIX Swiss Exchange, according to Ledger Insights. The deal marks the first time an African institution has issued a digital bond through a central securities depository and an exchange, giving the transaction added significance beyond its size alone.
The bond carries a five-year term and a 1.4925% coupon. By size, it ranks among the larger digital bond offerings completed on the SDX platform, though it remains below the CHF 375 million bond issued by UBS in 2022. The transaction was arranged by Commerzbank AG, which acted as technology lead, together with Deutsche Bank. The issuance adds another example of established financial institutions using regulated market infrastructure for digital securities issuance.
Africa Finance Corporation issued a CHF 350 million digital bond, or about $431 million, through SDX, the digital platform of SIX Swiss Exchange, according to Ledger Insights.
The transaction marks the first time an African institution has issued a digital bond through a central securities depository, or CSD, and an exchange.
Bond terms and deal structure
The bond has a five-year tenor and carries a 1.4925% coupon. It is one of the larger digital bonds issued on the SDX platform, although UBS issued a CHF 375 million bond in 2022.
Commerzbank AG arranged the deal as technology lead, alongside Deutsche Bank.
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