HSBC Germany has launched a digital platform for the issuance of Schuldscheindarlehen. Schuldscheindarlehen are debt capital markets financing solutions. Two Schuldscheindarlehen have already been successfully placed with international investors via Synd-X. An issue by the financial service provider GRENKE AG went as a private placement to a European asset manager. The Schuldschein issued by another issuer was placed via the digital platform with financial institutions from Europe and Asia. The transaction contained tranches in euro and US dollar.
“With Synd-X HSBC covers the entire value chain of a Schuldschein issuance”, says Dr. Jan Wilmanns, HSBC Germany Management Board member. “The platform combines our long-standing experience in the international promissory note market with our expertise in high-tech securities processing. We are now inviting other banks to establish, together with us, a new market standard for issuing Schuldscheindarlehen in order to further improve added value for the clients.”
“For a leasing provider such as GRENKE, direct access to the capital market plays a decisive role”, says Sebastian Hirsch, GRENKE AG Management Board member. “With Synd-X we can digitise the Schuldschein issuance. The combination of the quick and efficient process on the digital platform with HSBC’s network has made it far easier for companies to issue Schuldscheindarlehen.”
Synd-X is an online market place newly created by HSBC which brings companies and investors together directly for their Schuldschein transactions. As part of the HSBC Group, Synd-X is subject to the high data security and compliance standards of a large international bank. The platform connects the advantages of digitalisation with the growing regulatory requirements made of all capital market participants.
“We are proud to have completed our first transactions via this platform after the intensive work we have carried out in recent months. Synd-X brings the user-friendliness of the process for all parties – issuers and investors – to a completely new level”, says Wilmanns. “Apart from the digitalised processes, we at HSBC offer valuable advisory services in sales & marketing, pricing, documentation and settlement. Banking is and remains a business based on trust.”
Investors can submit their orders and subscription certificates on Synd-X with a simple mouse-click. At the same time they get a quick overview of the ongoing and completed transactions. Companies can in turn market the Schuldschein via Synd-X themselves, or as usual rely on the Bank’s expertise. A “live order book” shows the current marketing status transparently and clearly.
Synd-X is a further step in HSBC’s digitalisation strategy. The Bank already introduced the MyDeal iPad application for bond roadshows several weeks ago. With MyDeal issuers can directly call up all relevant information, such as price changes, roadshow dates, investor feedback and order book development, during a roadshow.