The city of St. Gallen in Switzerland will issue a three-year digital bond worth 100 million Swiss francs using SIX Digital Exchange (SDX). This is the fourth city to issue digital bonds on SDX in the past three months. Zurich state (100 million Swiss francs) and Basel city (105 million Swiss francs) issued bonds in November, and Lugano issued the second 100 million Swiss franc bond earlier this month.
So far, all bonds listed on SDX are denominated in Swiss francs and issued according to Swiss law. Now, SDX is looking for small companies with equity of at least 25 million Swiss francs and hopes to issue bonds worth more than 20 million Swiss francs.