Germany's state-owned KfW bank issues a new €9 billion in digital bonds through Clearstream's D7 platform.
KfW Issues €17.5bn in Digital Bonds via Clearstream D7 Platform
KfW, the German state-owned development bank, has made a significant stride in digital finance, issuing a total of €17.5bn in digital bonds via the Clearstream D7 platform. This latest issuance, which took place this month under German law, marks the fourth set of digital bond issuances by KfW on the D7 platform.
The issuance consisted of two tranches. One tranche was a €3 billion, 10-year bond with a 2.75% coupon, while the other was a €6 billion, 3-year bond with a 2.375% coupon. This centralised issuance under German law follows KfW's initial foray into digital bond issuance via the D7 platform in October 2020, surpassing €10 billion in total volume issued.
The D7 platform, a centralised issuance platform, leverages Digital Asset DAML/Canton DLT technology. This technology has enabled the platform to handle tens of thousands of small structured product issuances, making it a popular choice among financial institutions.
The D7 platform's success is evident in its recent milestone of surpassing €20 billion in total volume issued. In addition to KfW, Deutsche Bank has also issued digital bonds totaling €9 billion this month via the Clearstream D7 platform, with coupon rates of 3.5% and 4.0% for the two tranches.
As digital finance continues to evolve, the D7 platform's role as a pioneer in digital bond issuance is becoming increasingly significant. For readers seeking deeper insights, exclusive industry analysis, and early access to legislative updates, subscribing to relevant platforms is encouraged.
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