Siemens (SIE), Germany’s third-largest publicly traded company by market cap, issued its first digital bond as it looks to reduce paperwork and reach out to potential purchasers directly.
The 60 million-euro ($64 million) bond, issued on the Polygon blockchain, has a maturity of one year, according to a press release. The company declined to give the interest rate.
A blockchain bond “makes paper-based global certificates and central clearing unnecessary,” the company said in the statement. “What’s more, the bond can be sold directly to investors without needing a bank to function as an intermediary.”
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