Natwest has issued a Yen 1 billion five-year note as a pilot using the London Stock Exchange’s DCM Flow platform to streamline the process. Flow is a solution that automates digital debt issuance, powered by Nivaura, a startup that has developed smart legal documents and digital term sheets. The London Stock Exchange is a significant Nivaura investor.
The company developed the General Legal Mark-up Language used in the Flow platform and brings issuers, dealers and legal advisers together in the negotiation process. Ultimately the goal is to make issuance faster, easier and less costly.
“We successfully used the platform to originate the deal, negotiate and sign legal documentation,” said Clare Goold, Head of Syndicate Transaction & Execution Management, at NatWest.
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