World’s First All-Digital Private Bond Launches to Finance Affordable Housing | Your money
LONDON, Sep 15, 2021 (GLOBE NEWSWIRE) – IDAP Global Presents the World’s First Fully Digital Private Bond with Black Manta Capital Partners (âBMCPâ) as Principal Placement Agent, Funding Affordable Housing Project in England . The Â£ 15million all-digital bond is backed by Globacap through its private placement solution using blockchain technology. Lares Digital Bonds (3.5-year bonds with a fixed annual yield of 7%) are the first fully digital private bond offering, combining the strengths of two major global financial centers in London and Luxembourg.
This offering changes the way private placement and structured finance have traditionally been carried out to make them more efficient and accessible to both project leaders and a wide range of investors.
Lares Digital Bonds was born as the first private digital bond offering thanks to the combination of the technical and regulatory expertise of Black Manta Capital Partners (https://blackmanta.capital) and Globacap (https: // globacap .com), IDAP (https://idap.uk) innovative approach to project financing, and proven legal and traditional expertise in financing Amicorp Luxembourg and CMS Luxembourg. Bonds are governed by state-of-the-art KYC and AML processes, and delivered through a fully digital, end-to-end investment process.
Private and institutional investors can now enjoy the ease of a fully digital investment process and the ability to trade their investments in Lares digital bonds without the costs and hassle of traditional methods.
With a fully digital bond and ledger process, issuers and investors benefit from
lower intermediate costs in a fully digital process; investment process reduced from days to minutes, including KYC and AML fully managed by computer or smartphone; almost instantaneous after-sales transactions (minutes or seconds instead of the traditional T + 2 settlement time of clearinghouses); and, automated coupon redemptions and payments.
âWe are proud to be a part of this project because it is fully in line with our vision for digital assets,â said Alexander Rapatz, co-founder and managing partner of Black Manta Capital Partners. âBlack Manta Capital was one of the early entrants, and we managed everything from tokenization of real estate to stocks to funds. When IDAP offered us the opportunity to bring our expertise in the field from tokenization to the project finance space, we knew that was the next step. “
Alexander Green, Chief Evangelist and Co-Founder of Globacap, commented: âGlobacap’s mission is to change the way capital markets work, completely overhauling the traditional process. With our complete digital ecosystem, processes are automated to dramatically reduce administration time and speed up transactions. closing. We are really proud to see him in action as part of this partnership with IDAP and BlackManta, pushing into the project finance space. We are taking an important step towards a fully digital future and to see it happen that way privately the placement is fantastic. “
Thanks to this pioneering partnership, it is the first of many project finance operations that will be introduced to the market using this innovative approach.
About IDAP Global
IDAP has created its own fully digital securitization platform to help businesses create bankable transactions and turn opportunities into realities.
For more information, please contact [email protected]
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