Siemens has once more issued a digital bond in accordance with Germany’s Digital Securities Act (Gesetz über elektronische Wertpapiere, eWpG).
This follows the profitable issuance of its first digital bond final yr. In issuing the bond, the corporate is supporting the trials by the Eurosystem and the Bundesbank particularly, which might be aimed toward testing blockchain expertise for the digital monetary market.
“For the reason that profitable issuance of our first digital bond on a blockchain, now we have been rigorously specializing in the additional growth of this forward-looking expertise. By issuing one other digital bond, we’re demonstrating as soon as once more our spirit of innovation and underscoring our purpose to constantly drive digital options for the monetary markets. Siemens stays a pioneer within the utility of the newest applied sciences on the capital and securities markets,”
stated Ralf P. Thomas, Chief Monetary Officer of Siemens AG.
“Automated processing inside a couple of minutes reveals the large potential of this new expertise and confirms our technique of enjoying a number one position in constantly shaping the digital transformation. We’re proud to be an lively driver of additional developments on this space and of the additional digitalization of the capital markets. Because of our profitable collaboration with our challenge companions, now we have reached one other key milestone,”
added Peter Rathgeb, Company Treasurer of Siemens AG.
The present bond has a quantity of €300 million and a maturity of 1 yr. The securities transaction was settled by way of the non-public permissioned blockchain of SWIAT, and the Set off Answer offered by the Bundesbank, making it potential to settle a Siemens bond for the primary time in a completely automated method, inside minutes and in central financial institution cash.
Settlement in Minutes
Within the transaction, Siemens leveraged its precious expertise with final yr’s first-time €60 million digital bond issuance, which had nonetheless required a two-day settlement interval. In consequence, this time the settlement threat was nearly absolutely eradicated for all events concerned.
DekaBank acted as bond registrar for the transaction. BayernLB, DekaBank, DZ BANK, Helaba and LBBW invested within the securities. Deutsche Financial institution ensured settlement for Siemens in central financial institution cash by way of the Bundesbank Set off Answer.
Featured picture credit score: edited from freepik
