SIX Just Dropped a CHF 250M Digital Bond—TradFi Plays Catch-Up
Switzerland’s SIX exchange just minted a whopper—a CHF 250 million digital bond, because apparently blockchain isn’t just for crypto degens anymore.
Why this matters
Traditional finance keeps dipping its toes in the digital asset pool—this time with a ’look ma, no paper!’ bond issuance. Progress? Sure. Revolutionary? Let’s not get carried away.
The fine print
No intermediaries, instant settlement, and all the usual blockchain buzzwords. But let’s be real—it’s still a bond. Just one that doesn’t require a fax machine to process.
Bottom line
Another baby step toward institutional adoption. Meanwhile, crypto natives yawn and go back to their 100x leverage trades.
SIX, the leading operator of the Swiss and Spanish financial market infrastructures, confirmed the successful issuance of a CHF 250 million digital bond. Featuring a 1.00% per annum coupon and a maturity in 2032, the bond attracted significant investor interest and will be listed at SIX Swiss Exchange.
The net proceeds from the bond will be used for general corporate purposes which may include the refinancing of existing debt and the financing of the acquisition of Aquis Exchange Plc, as announced by the Issuer on 11 November 2024.
Daniel Schmucki, CFO SIX, commented: “This transaction marks the return of SIX to the CHF bond market since its last issuance in 2021. We are delighted with the strong investor demand, which highlights investor trust in the growth strategy of SIX and reinforces our reputation as a trusted and stable partner in the financial markets. The proceeds will further strengthen our financial flexibility, enabling us to continue delivering innovative solutions and creating value for our stakeholders.”
Standard & Poor’s Global Ratings has reaffirmed the strong issuer credit ratings of SIX Group AG (A) and its subsidiaries, SIX x-clear AG and SIX SIS AG (A+) in November 2024 and is expected to assign an A rating to the bond.
The issuance was led by Raiffeisen Schweiz Genossenschaft, UBS AG and Zürcher Kantonalbank, serving as joint lead managers.
Source: SIX
