International law firm CMS Luxembourg has advised IDAP Global on the world’s first fully-digital private bond with Black Manta Capital Partners (“BMCP”) as the primary placement agent, financing an affordable housing project in England. The fully-digital £15 million bond is supported by Globacap through its private-placement solution using blockchain technology. Lares Digital Bonds (3.5-year 7%-fixed annual-yield securities) are the first fully-digital private bond offering, combining the strengths of two major global finance centers in London and Luxembourg.
This offering changes the way that private placement and structured financing are traditionally done to make them more efficient and accessible for both project owners and a wide range of investors. Professional investors can now experience the ease of a fully digitized investment process and the ability to trade their investments in Lares Digital Bonds without the costs or hassle of the traditional methods.
IDAP created its own fully digital securitisation platform to help businesses create financeable deals and turn opportunities into realities. Lares Digital Bonds came to life as the first private digital bond offering through the combination of the technical and regulatory expertise of Black Manta Capital Partners and Globacap, and IDAP’s innovative approach to project financing.
The Digital Assets team of CMS Luxembourg advised its client during the full issuance and process. The team was led by Investment Funds and Capital Markets partner Aurélien Hollard, supported by managing associate José Ocaña and associate Julie Pelcé.
