Blockchain
As a part of its ordinary capital elevating on the monetary markets, at present the Finance Division of the Metropolis of Lugano, in cooperation with Zürcher Kantonalbank, issued a 100 million franc bond with a 6-year time period and 1.625% coupon, based mostly fully on Blockchain expertise.
The issuance of the Metropolis of Lugano’s new bond was by means of the progressive SIX Digital Alternate (SDX) platform, linked to the SIX Group, the world’s first digital platform based mostly on Blockchain expertise to be absolutely regulated.
The issuance represents the primary bond within the historical past of the general public sector, to be issued, listed and traded digitally on a regulated platform based mostly on blockchain expertise.
The choice to make this necessary issuance by means of SDX is per the imaginative and prescient and mission spelled out within the 2018-2028 Improvement Pointers and concretizes the Metropolis’s orientation to need to be a “mannequin of innovation” and to “promote and assist digital transformation, technological innovation, growth and analysis, with the goal of being a metropolis on the forefront.”
The Metropolis already actively promotes using Blockchain expertise with the Lugano Plan ₿ initiative; the choice to make this issuance by means of the SDX platform is per the philosophy of encouraging the adoption of this expertise in numerous fields of exercise.
With this transaction, the Metropolis of Lugano intends to stimulate the general public sector to innovate additionally within the monetary sector, and helps this new issuance methodology, which is the digital evolution of the normal bond issuance system.
The Metropolis’s bond mortgage will probably be listed concurrently on each the SDX platform (digital) and the SIX Swiss Alternate platform (conventional inventory alternate), making certain twin itemizing for buyers, who will have the ability to commerce bonds on the 2 platforms.
As well as, the bond has acquired an official score from Moody’s score company of Aa3 and has the traits to be included within the Swiss Bond Index, like different bonds issued by Lugano prior to now.
Metropolis of Lugano Communication and Institutional Relations.
The Metropolis want to thank the companions who made this progressive issuance potential, notably Zürcher Kantonalbank within the function of lead supervisor for the issuance, SDX for the technical half, and Moody’s for the implementation of the bond score.
