LuxSE and Origin complete very first fully digital listing by BIL
Luxembourg 3 March 2021: The Luxembourg Stock Exchange (LuxSE) and London-based fintech company Origin have successfully completed the first fully digital listing of a debt security on LuxSE via Origin’s digital platform. The very first bond issuance to be listed at LuxSE through the digital process of the Origin platform was a EUR 10 million senior note issuance by Banque Internationale à Luxembourg (BIL), issued and listed on LuxSE on Friday 26 February, 2021.
“This digital listing marks a milestone for our exchange and for our productive collaboration with Origin. We are convinced that digital workflows and streamlined processes will bring multiple benefits to issuers and other parties involved in a bond issuance. Digital solutions make capital markets more efficient and easier to navigate, and we are excited to be driving this change,” commented Arnaud Delestienne, Director of International Capital Markets and Member of the Executive Committee at LuxSE.
Simplifying and automating processes
Through digital deal execution and automated documentation flows, Origin makes the issuance process for new financial debt instruments more reliable and efficient, and reduces the risk of errors stemming from manual processes.
Origin’s platform makes it possible for market players to generate, share and approve fully customisable term sheets and final terms. Once the final terms of a bond issuance are confirmed, the security can be listed on LuxSE via the Origin platform. This seamless listing of a debt security is made possible via an Application Programming Interface (API) developed by LuxSE that allows the documents and information created on Origin’s platform to be shared with the exchange without the need for the issuer to take any action apart from selecting LuxSE as listing option on the Origin platform.
“It is vitally important to us that the work we do, and the products we build ultimately add value to our clients and make their lives easier. That’s why we are so excited to have crystallised our collaboration with the Luxembourg Stock Exchange with this very first digitally listed transaction for BIL, and we hope this
will be the first of many such transactions. Enabling digital listing is an important part of the roadmap towards building a truly digital capital market,” stated Raja Palaniappan, CEO of Origin.
Embracing digital
Origin’s platform for bond issuance is particularly relevant for repeat issuers who are active in capital markets and who are looking for ways to streamline and automate the issuance process.
The BIL deal that became the first issuance to be listed on LuxSE via Origin is a fungible tranche, an increase of a transaction of a total size of EUR 271 million. Deutsche Bank acted as the dealer on the transaction.
“As a Luxemburg issuer, we were pleased to be a pioneer to test the e-listing of the Luxembourg Stock Exchange through the API solution set up in collaboration with Origin. This innovative experience enabled all parties involved to ramp up the automation and strengthen efficiency all over the issuance process,” said Olivier Habay, Head of Long Term Funding at BIL.
LuxSE initially acquired a 10% stake in Origin in 2019. In 2020, LuxSE strengthened its investment in the company as other investors entered the Series A funding round.
About the Luxembourg Stock Exchange
The Luxembourg Stock Exchange (LuxSE) is the gateway to access international investors. With more than 37,000 listed securities, including 33,000 debt instruments, from 2,000 issuers in 100 countries, LuxSE is one of the world’s leading exchanges for the listing of international debt securities and offers a unique and integrated service offering covering listing, trading and information services.
In 2016, LuxSE launched the Luxembourg Green Exchange (LGX) and became the first exchange in the world to operate a platform dedicated entirely to sustainable securities. LGX has become a meeting place for impact-conscious issuers and investors, and has a leading global market share of listed green, social and sustainability bonds worldwide.
LuxSE also operates a specialist subsidiary, Fundsquare, which provides services to support and standardise cross-border distribution of investment funds.
For more information, visit www.bourse.lu
About Origin
Headquartered in London, Origin is a leading player in the digitisation of debt capital markets, helping dealers and issuers streamline the issuance process from start to finish. Founded in 2015, Origin launched its first product in 2017, and is now used by over 20 dealers and 90 issuers across 60 cities worldwide.
For more information, visit https://originmarkets.com
Media contacts:
LuxSE
Julie Vichi
Phone: +352 47 79 36 519
jvi@bourse.lu
Origin
Katie Orr
Phone: +44 020 8050 9928
katie.orr@boldspace.com
