Public Company Metavisio (Thomson Computing) issues USDC-denominated bond on Obligate
This transaction marks the first digital bond issuance for a public company ever to be conducted without the involvement of traditional banking institutions.
Zurich, Switzerland — March 14, 2024 – Obligate, the leading on-chain capital markets platform, along with its partner Capital Système Investissements, an investment management company, has successfully completed a bond issuance for the publicly traded French Computer Manufacturing company Metavisio (EPA: ALTHO), utilizing USDC and deployed on the Polygon PoS blockchain. The rating for this issuance was provided by Credora.
Stephan Français, CEO of Metavisio expresses his enthusiasm for the success of this issuance: “By being the first publicly traded company to issue a bond on the blockchain, Metavisio proves that it knows how to stay at the forefront of innovation and constantly adapt to new technologies and new investors. We want to thank our partner Capital Système Investissements and Obligate for this initiative”.
The proceeds from this bond issuance are earmarked for Metavisio’s expansion into manufacturing operations in India, supporting the company’s growth strategy and keeping its position as the leader in their segment in France, aiming to consolidate globally. Metavisio, recognized for its innovative computing solutions and having already a significant international presence, will bolster its production capabilities to meet growing demand globally. With a committed order pipeline of $50 million across 52 countries, and an expansion goal covering 195 countries by the end of 2024, this financial initiative is instrumental in Metavisio’s continued global expansion.
Oscar Buhler, Senior Relationship Manager at Obligate adds “This achievement in issuing the first-ever digital bond for a public company without banking intermediaries involved is an innovative moment for both the financial industry and the decentralized finance (DeFi) environment. Offering a paradigm shift in capital markets and transformative solutions to our clients, this collaboration not only pioneers a new phase in corporate finance but also opens doors to unprecedented opportunities”.
This issuance sets a new precedent in the Corporate Finance sector by illustrating that companies can access funding efficiently without the need for banking intermediaries. By significantly cutting costs and time associated with legacy bond issuance processes, Obligate enables more seamless access for Metavisio investors. Obligate achieves this by leveraging smart contract technology on the Polygon and Base blockchains to replace the role of the issuer and paying agent in the traditional bond settlement process.
Following Obligate’s recent successful issuances with Polytrade, TradeFlow, and participation in the Tokenization Coalition, this issuance by Metavisio represents a further step in the adoption of blockchain technology within capital markets.
Oscar Buhler, Senior Relationship Manager at Obligate, and Gilles-Emmanuel Trutat, Managing Partner at Capital Système Investissements, on behalf of Metavisio are available for interview.
Media Contact:
Amy O’Connor
amy.oconnor@wachsman.com
About Metavisio
Metavisio is the French success story in IT. The company creates the computers of tomorrow, high performance, and disruptive design. The time-to-market strategy distinguishes Metavisio by its agility to bring innovative products to market well before its competitors. Metavisio was awarded best PC at IFA Berlin 2023. The historical approval from the Indian government to participate in public tenders to meet significant needs in IT solutions represents a considerable opportunity for Metavisio. Metavisio anticipates a record year with a now complete range (gaming, professional, and consumer products) and sustained international development. The company aims to extend its reach from 52 to 195 countries by the end of 2024, presenting a compelling investment opportunity.
About Capital Système Investissements
Capital Système Investissements is a financial intermediary regulated in Switzerland and based in Geneva. Specialized since 2001 in complex financing for rapidly expanding companies, Capital Système Investissements offers professional and qualified investors innovative solutions for investing in high-yield private debt and Real World Assets (RWA).
About Obligate
Standing at the forefront of institutional adoption in on-chain capital markets, Obligate is providing a secure, transparent, and regulatory compliant platform for the issuance, trading, and lifecycle management of debt instruments natively issued on the blockchain. The platform’s unique architecture caters to the complex needs of institutional investors whilst lowering the barriers of entry for issuers by providing efficient access to multilateral financing. Featuring their proprietary eNotes®, ledger-based securities based on the most advanced DLT-legislation, a comprehensive dispute resolution framework, and global enforceability of the debt securities, Obligate demonstrates its commitment to meeting institutional standards. Obligate AG is a member of VQF, a Swiss FINMA regulated AML SRO, and a financial intermediary.
