The Swiss City of Saint Gallen will use the SIX Digital Exchange (SDX) to issue a CHF 100 million, three year digital bond. This is the fourth municipality to issue a digital bond on SDX in the last three months. It coincides with wholesale central bank digital currency (CBDC) trials conducted by SDX, where the wholesale CBDC issued by the Swiss National Bank is used to settle the bond issuances.
The Canton of Zurich (CHF 100 million) and City of Basel (CHF 105 million) issued bonds in November and Lugano issued a second CHF 100 million bond earlier this month. All were settled with the CBDC.
Basler Kantonalbank, UBS and J. Safra Sarasin are the lead managers for the St Gallen issuance.
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