World’s First Fully-Digital Private Bond Launched to Finance Affordable Housing
LONDON, Sept. 15, 2021 (GLOBE NEWSWIRE) — IDAP Global introduces the world’s first fully-digital private bond with Black Manta Capital Partners (“BMCP”) as the primary placement agent, financing an affordable housing project in England. The fully-digital £15 million bond is supported by Globacap through its private-placement solution using blockchain technology. Lares Digital Bonds (3.5-year 7%-fixed annual-yield securities) are the first fully-digital private bond offering, combining the strengths of two major global finance centers in London and Luxembourg.
This offering changes the way that private placement and structured financing are traditionally done to make them more efficient and accessible for both project owners and a wide range of investors.
Lares Digital Bonds came to life as the first private digital bond offering through the combination of the technical and regulatory expertise of Black Manta Capital Partners (https://blackmanta.capital) and Globacap (https://globacap.com), IDAP’s (https://idap.uk) innovative approach to project financing, and the proven legal and traditional financing expertise of Amicorp Luxembourg and CMS Luxembourg. The bonds are governed by state-of-the-art KYC and AML processes, and delivered through a completely digital, end-to-end investment process.
Private and institutional investors can now experience the ease of a fully digitized investment process and the ability to trade their investments in Lares Digital Bonds without the costs or hassle of the traditional methods.
With an entirely digital bond and registry process, issuers and investors benefit from
- lower intermediary costs in a completely digital process;
- reduced investment process from days to minutes, including KYC and AML handled entirely through computer or smart phone;
- nearly instantaneous after-market transactions (minutes or seconds instead of the traditional T+2 settlement time of traditional clearinghouses); and,
- automated redemptions and coupon payments.
“We are proud to be part of this project, as it is fully aligned with our vision of digitized assets,” said Alexander Rapatz, Co-Founder and Managing Partner of Black Manta Capital Partners. “Black Manta Capital was an early entrant, and we’ve handled everything from tokenization of real estate to equities, to funds. When IDAP brought us the opportunity to bring our tokenization expertise to the project financing space, we knew this was the next step.“
Alexander Green, Chief Evangelist and Co-Founder of Globacap, commented: “Globacap’s mission is to change the way capital markets operate, completely overhauling the traditional process. With our complete, digital ecosystem, processes are automated to significantly reduce admin time and accelerate deal closure. We’re really proud to see it in action as part of this partnership with IDAP and BlackManta, pushing into the project financing space. We’re taking a significant step towards a fully digitised future and to see it happen this way in private placement is fantastic.”
Thanks to this pioneering partnership, this is the first of many project-financing deals that will be introduced to the market utilising this innovative approach.
About IDAP Global
IDAP created its own fully digital securitisation platform to help businesses create financeable deals and turn opportunities into realities.
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