New Electronic Platform for ?300bn Private Placement Bond Market Launched by Origin
(Thomson Reuters ONE) -
Origin today launches the beta-version of its private placement issuance
platform for the Medium Term Note market with six investment banks as dealers
and over 20 international borrowers
Origin's platform offers a single platform for issuer funding programs,
borrowing targets, and electronic record keeping of transaction steps
Full launch of the platform is expected in the second half of 2017
9 January 2017, London: In partnership with six investment banks and over 20
international debt issuers, Origin announces the beta-phase launch of its
private placement platform today, and expects, as planned, to move towards a
full launch later this year. Participants in the beta-version launch will be
given the option to participate in the full launch.
Origin simplifies issuance in the Medium Term Note ('MTN') private placement
market by acting as a central information source, bringing together MTN issuers
and dealers. Dealers can receive target funding levels directly from issuers
consolidated on one platform. In addition to simplifying the communication and
workflow between dealers and their existing issuer clients, one of Origin's
principal aims is to foster connections and facilitate new business between
dealers and issuers who haven't previously had a relationship before.
Private placements MTNs, believed to amount to about a third of the ?1trillion
of investment grade debt issued annually in Europe, is a core segment of the
debt markets: allowing issuers to efficiently raise capital at more attractive
levels compared to the syndicated bond market, and providing investors with
customised securities that specifically match their portfolio and investment
requirements.
Ben Powell, Head of Funding for IFC, said "The private placement market is a
very important part of our overall funding strategy. Origin simplifies what was
once a manual process prone to inefficiency. It allows us to manage our dealer
communication in one central place."
In recent years, banks conducting private placement activities for issuers have
faced a number of challenges including increasing regulatory requirements and
cost pressures, requiring them to find ways to keep desk costs low while still
providing a good service to issuers.
Using cutting-edge, cloud-based technology with bank-grade security measures,
Origin's platform provides the market with a timely solution offering greater
transparency and more effective audit capabilities, as well as helping to
satisfy both the current and expected regulatory requirements. And by
simplifying much of the time consuming but necessary administrative work,
dealers will be able to increase their effectiveness with their clients by
focusing on more value-added conversations.
Issuers, who are increasingly looking to tap a more diverse investor base, can
improve their communication and expand their conversations to a wider group of
dealers. The issuer maintains complete control over which information is shared
with which dealers. They can also optimise their funding using the built-in
cross-currency pricer, comparing their funding levels to their own and their
peers' levels in the secondary markets.
Joakim Holmstrom, Head of Funding at Municipality Finance, said: "We see a large
potential in Origin. It is not only a very useful platform to make the whole MTN
issuance process more efficient. In our strategy to diversify and expand our
investor base, Origin is a great tool to access a broader range of new Dealers
who have access to local pockets of demand."
The Origin platform is also a workflow tool, helping the issuance process by
automating cross-currency calculations, generating runs, and producing
termsheets, allowing dealers and issuers to monitor the market and track their
inquiries and trades in one centralised place.
Raja Palaniappan, the co-founder of Origin said: "We are thrilled to have such
broad-based early support for our platform across the European MTN market, and
we are already seeing a healthy pipeline build up for 2017."
Origin's launch partners include: BNP Paribas, DekaBank, Bank of America Merrill
Lynch, Société Générale Corporate and Investment Banking, Credit Suisse, and
Danske Bank on the dealer side, as well as on the issuer side: IFC, Inter-
American Development Bank, SEK, Municipality Finance, Nordic Investment Bank,
Bladex, NWB Bank, Investec, AKLease, Rabobank, Berlin Hyp, pbb Deutsche
Pfandbriefbank, Hitachi Capital UK, Korea Development Bank, and others.
ENDS
For further information:
Origin Markets
Raja Palaniappan, raja.palaniappan(at)originmarkets.com / +44 (0) 207 993 5375 /
+44 (0)7779 209652 and originmarkets.com
CTF Communications
Adrian Flook, aflook(at)ctfcomms.com / +44 (0) 203 540 6456 / +44 (0)7768 608396
Raja Palaniappan, Co-Founder of Origin:
http://hugin.info/173522/R/2069557/777589.png
Robert Taylor, Co-Founder of Origin:
http://hugin.info/173522/R/2069557/777590.png
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Origin Primary Limited via GlobeNewswire
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