Issuance and subscription of CDP's first Digital Bond
On 18 July 2024, Cassa Depositi e Prestiti Spa (CDP) completed its first issue of a Digital Bond with a nominal value of 25 million euros, a maturity of 4 months and a fixed coupon to maturity of 3.633% on an annual basis.
The issuance, which took place on the Blockchain using DLT (Distributed Ledger Technology) is the first in Italy pursuant to the FinTech Decree-Law and has been fully underwritten by Intesa Sanpaolo.
The transaction took place as part of the participation of CDP and Intesa Sanpaolo in the experimentation launched by the European Central Bank (ECB) to identify new solutions for the settlement of wholesale transactions in Central Bank currency for transactions carried out on DLTs.
CDP and Intesa Sanpaolo acted as Market Participants, while CDP also acted as Market DLT.
This transaction aims to define a new technological model for future digital bond issues and Intesa Sanpaolo, with its digital skills, confirms its focus on overseeing new technological infrastructures in the capital market.
Cassa Depositi e Prestiti and Intesa Sanpaolo are the first financial institutions in Italy to conclude a transaction with these characteristics.
