The portal for smart intermediation of assets.

Carry out the entire bond issuance process on our digital marketplace – from entry to repayment.

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Bookbuilding Ansicht im Emissionsprozess

The digital bond issue
financing made easy

The digital bond issue is revolutionising the capital market’s decades-long rut. It meets today’s consultancy requirements and also satisfies the stakeholders’ need for simple, intuitive handling.

Secure transactions

With insurance companies, banks, pension funds and asset managers, our extensive portfolio of investors is particularly attractive for issuers and ensures the demand for your bonds. Investors who are not (yet) on the platform can submit their offers via Raiffeisen Switzerland.

Tailor-made solutions

In most cases, the success of an issue is determined by several factors – for example, the access to the investor base or accurate market assessment before the issue.
We would be happy to assist you in this and suggest further ways of making your issue a success.

Secure transactions

With insurance companies, banks, pension funds and asset managers, our extensive portfolio of investors is particularly attractive for issuers and ensures the demand for your bonds. Investors who are not (yet) on the platform can submit their offers via Raiffeisen Switzerland.

Tailor-made solutions

In most cases, the success of an issue is determined by several factors – for example, the access to the investor base or accurate market assessment before the issue.
We would be happy to assist you in this and suggest further ways of making your issue a success.

New bond issue
More diversification in the financing mix

The digital capital marketplace Valyo offers issuers the possibility of a completely digitized bond issue and this without any intermediary. 
The simple and standardised process ensures market-driven conditions. With the digitalisation of bond issuance, Valyo meets today's consultancy requirements and satisfies the stakeholders’ need for simple, intuitive handling.

Your benefits

Issuers process the issue online via the platform, from the recording of transaction data, through book building, to settlement and arranging for the listing of the bond. The settlement of the repayment of coupon and bond can also be instructed via the system.

Long-term money

Long-term money

  • For issuers, issuing a bond is one of the classic means of raising debt capital and enables diversification in the financing mix. Unlike loans, bonds have the advantage that the issuer raises liquidity without having to provide additional collateral. 

More transparency

More transparency

  • On the Valyo capital market platform, issuers and investors come together directly without intermediaries and process the issue online via the platform. Pricing and allocation are transparent and comprehensible to the parties and are not managed by an intermediary. Market participants are supported by proven financial market experts from Valyo.

Volume

Volume

  • The optimal issue volume is from CHF 100 million in order to be considered in the Swiss Bond Index (SBI) - which is an essential condition for many institutional investors. 

Optimal pricing

Optimal pricing

  • With an auction, optimal price discovery can take place. With Valyo, investors submit their bids based on the issuer's predefined spread range without seeing the spread offer of the co-bidding investors. The issuer uses a book simulator to determine the price that suits him best. Allocation takes for all market participants takes place at the same price respectively spread at which the targeted volume of the issue is achieved. 

Transaction costs

Transaction costs

  • The simple digital issuing process guarantees significantly lower transaction costs than with a traditional issue at a lead bank. 
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Reopening of existing bonds
More flexibility for issuers - and investors

As the first digital capital market platform, Valyo offers issuers the opportunity to reopen existing bonds. Because our processes are simple and standardised - just like the launch of a new bond - the transaction costs are significantly lower than with a lead bank. With the new offer, Valyo meets the proven need of numerous issuers who are considering reopening their existing bonds for various reasons.

Your benefits

With a reopening, issuers can increase the volume of an already outstanding bond quickly and easily. The increased tranche has the same maturity date and coupon as the original issue - but not the same price due to changed market conditions. Reopenings follow the well-known transaction process of a new issue but are also possible for significantly smaller volumes.

More flexibility

More flexibility

  • Reopening an existing bond offers issuers additional flexibility in financing: They are able to react quickly to increased demand from investors, can manage financing and maturity profile opportunistically - and have the possibility to do smaller transactions. The latter point is interesting for various reasons: Smaller transactions are not only opportune for smaller financing needs, they also allow issuers to test Valyo's capital market platform.

Optimal reopening

Optimal reopening

  • The reopening of an existing bond is already possible with volumes that are significantly lower than those for a new issue. For bonds that are already included in the SBI index - a key requirement for many investors – a reopening from CHF 25 million is ideal. This gives issuers the opportunity to reach the initial target size in case the volume of the initial issue was too low. 

Rapid reaction

Rapid reaction

  • With a reopening, an issuer can react quickly and opportunistically to attractive conditions. In addition, a reopening of an existing bond also enables reverse-inquiry transactions where the initiative comes from the investor side: And because you know the market prices of your outstanding bond, you have a precise reference point for the pricing or spread range of each reopening tranche.

Which bonds

Which bonds

  • For the time being, only bonds with a remaining term of more than one year can be reopened on our capital market platform. It does not matter whether the new issue was originally arranged by Valyo or not. The price of the reopening tranche is determined by the issuer after book closing based on the collected investor bids. Because the terms are influenced by the secondary market price of the outstanding bond, the price may be higher or lower than in the initial offering. As an issuer, you can usually rely on your existing base prospectus for a reopening; only the detailed data may need to be adjusted.
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Interested in a free demo?

Request a free demo and find out how efficient and transparent it is to issue and invest on Valyo’s digital financial market platform.

Interested in a free demo?

Request a free demo and find out how efficient and transparent it is to issue and invest on Valyo’s digital financial market platform.

Request demo

We are glad to help you with all questions

David Brunner ist Sales & Account Manager bei der Firma Valyo AG.

David Brunner

Sales & Account Manager

Frequently Asked Questions

Please consult our FAQs or contact us directly without obligation. We look forward to being of service.

all FAQs

No, there is no transaction obligation.

 

In terms of content, the issuance process does not differ much from the process at traditional banks. But Valyo reduces the amount of time between allocation and settlement to a few days because the preliminary prospectus is created before the book is opened.

 

Investors do not pay any fees to use the platform. Issuers are charged transaction-based platform fees as well as customary fees for the paying agent and SIX.