Raiffeisen Switzerland, a cooperative of cooperatives (the union of independent Swiss Raiffeisen banks), has reportedly secured a CHF 165 million bail-in bond via Valyo’s capital market platform.
As noted by its management, Valyo aims to “open the door to the world of finance, across borders” so that people are able to find solutions in a simple, intuitive and efficient manner.
Valyo aims to serve as the “portal for smart intermediation of assets.” You may use their platform to “carry out the entire bond issuance process on [their] digital marketplace – from entry to repayment.”
This is notably the first bail-in bond that has been issued digitally in Switzerland. It also marks the very first time that Valyo has involved an established bank in the role of joint lead manager via the platform.
The bond has been provided with a 8-year term, and a call option after 7 years, as well as a coupon of 0.405%. The first trading day on the SIX Stock Exchange has been scheduled for September 24, 2021.
On the Valyo capital market platform, issuers and investors are able to come together directly and handle the issue online through the platform. This process includes the recording of transaction data, via book building, all the way to settlement and arranging for the listing of the bond.
Daniel Schwab, CEO at Valyo, stated:
“With the issuance of a bail-in bond, we were able to prove our innovation capabilities once again. In addition, it was possible for us to include a bank as a joint lead partner for the first time.”
As mentioned in the announcement, Fintech startup Valyo Ltd is the digital capital marketplace for the Swiss bond market. Valyo has “enabled the first fully digital execution of an issue on the Swiss bond market.”
Valyo “generates added value by combining personal and professional support with an efficient and fully digitalized issuing process.” Valyo Ltd was “founded in April 2019 with its headquarters in Baden and is a wholly owned subsidiary of Raiffeisen Switzerland.”
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