NRW.BANK issues first digital bond

Photo: Gabriela Pant­ring, Member of the Mana­ging Board of NRW.BANK
18. Janu­ary 2023

Düssel­dorf — NRW.BANK is one of the first German finan­cial insti­tu­ti­ons to issue a digi­tal bearer bond under the Elec­tro­nic Secu­ri­ties Act. This makes it one of the pioneers in the digi­tiz­a­tion of this still very analog area in the secu­ri­ties market. Auto­ma­ted emis­sion process incre­a­ses speed

“The hand­ling of our first digi­tal bond issue is anot­her consis­tent step for us to actively shape the tech­no­lo­gi­cal trans­for­ma­tion in the finan­cial sector,” says Gabriela Pant­ring (photo © NRW.Bank), member of NRW.BANK’s Mana­ging Board. “A fully digi­tal issue signi­fi­cantly stream­li­nes the process while ensu­ring trans­pa­rency. It demons­tra­tes our commit­ment to digi­tiz­a­tion in the secu­ri­ties sector.”

The issue of the digi­tal bond with a volume of €20 million, two-year matu­rity and a coupon of 2.875% was hand­led via Deut­sche Börse Group’s D7 plat­form. The issu­ance of the bond was suppor­ted by LBBW.

The D7 plat­form repla­ces the tradi­tio­nal vault with a digi­tal secu­ri­ties regis­ter. This is an important first step that will enable further digi­tal trans­for­ma­tion of subse­quent sett­le­ment proces­ses. — NRW.BANK’s digi­tal bearer bond is listed on the Düssel­dorf Stock Exchange under WKN NWB1W2.

In summer 2021, the Elec­tro­nic Secu­ri­ties Act (eWpG) crea­ted the legal basis for issuing digi­tal secu­ri­ties. Issu­ers are no longer requi­red to depo­sit certi­fi­ca­tes of secu­ri­ties in paper form with Deut­sche Börse subsi­diary Clear­stream. Veri­fi­ca­tion and storage is also now no longer done in analog, but in a digi­tal emis­si­ons register.

In 2019, NRW.BANK had already become the first deve­lo­p­ment bank to process a promis­sory note loan tran­sac­tion on a same-day and paper­less basis via block­chain. This was follo­wed in Septem­ber 2020 by the first block­chain-based and thus fully digi­tal and legally secure own issue of a promis­sory note loan.

NRW.BANK is the deve­lo­p­ment bank for North Rhine-West­­pha­­lia. It supports its owner, the state of NRW, in its struc­tu­ral and econo­mic policy tasks. In its three promo­tion fields “Economy”, “Housing” and “Infrastructure/Municipalities”, NRW.BANK uses a broad range of promo­tion instru­ments: from low-inte­­rest deve­lo­p­ment loans to equity finan­cing and advi­sory services. It works toge­ther with all banks and savings banks in NRW on a compe­­ti­­tion-neutral basis. In its promo­tion acti­vi­ties, NRW.BANK also takes into account exis­ting offers from the federal government, the state and the Euro­pean Union.

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