Partnership will deliver opportunities to end-investors seamlessly and in fractional sizes; first product sees minimum investment reduced by 25x due to efficiency of digital securities
/PRNewswire/ Private capital platform iSTOX is rebranding itself as ADDX as it enters a phase of fast-paced growth. The digital securities exchange will.
CGS-CIMB And iSTOX Roll Out Digital Securities Issuance In S$150-Million Commercial Paper Programme - The CGS-CIMB Commercial Paper Is The First In A New Product Line By iSTOX - Commercial Papers Are A US$1-Trillion Market In The US And They Are Gaining Momentum In Asia Date
03/05/2021
Leading financial services provider CGS-CIMB and private capital platform iSTOX announced today the issuance of a short-term debt instrument in the form of digital securities. The S$150-million (or US$112-million[1]) multi-tranche commercial paper will be used to fund operating expenses and near-term obligations of CGS-CIMB. The first tranche of S$10 million was over-subscribed by accredited individual and corporate investors[2] on the iSTOX platform. Investors were offered a 1% per annum interest rate over 3 months. The full S$150-million programme is being carried out using digital securities, with no traditional issuance happening alongside the digital channel.
Tuesday, 4 May 2021, 6:45 am
The CGS-CIMB commercial paper is the first in a new
product line by iSTOX. Commercial papers are a US$1-trillion
market in the US and they are gaining momentum in
Asia.
SINGAPORE, 3 MAY 2021 –
Leading financial services provider CGS-CIMB and
private capital platform iSTOX announced today the issuance
of a short-term debt instrument in the form of digital
securities. The S$150-million (or US$112-million[1]) multi-tranche commercial paper will
be used to fund operating expenses and near-term obligations
of CGS-CIMB. The first tranche of S$10 million was
over-subscribed by accredited individual and corporate
investors[2] on the iSTOX platform.