Yesterday the European Investment Bank (EIB) issued its third blockchain bond, a GBP 50 million three-year floating rate bond using the HSBC Orion bond tokenization solution. This is the first public bond issuance for Orion, which was unveiled last November, and the bond is the first sterling-denominated digital bond.
For the EIB, the bond is its third blockchain issuance and the bank is keen to encourage innovation. Previous issuances were on the public Ethereum blockchain through Societe Generale FORGE, and using the Goldman Sachs Digital Assets Platform.
The latest £50 million bond used Luxembourg law. It involved BNP Paribas, HSBC and RBC Capital Markets as joint lead managers, with the banks also acting as custodians and HSBC as the central account keeper.
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