BondAuction today announced they have added additional functionality to the platform. Issuers, via their underwriting group, will be able to tender for their existing bonds in the marketplace.
Upon announcement, holders of bonds being tendered will be able to submit offers within the BondAuction platform via the lead managers to the issuer. A clear picture of which bonds can be bought back and at what price levels is communicated to the issuer and underwriters, allowing fast, informed decision making on setting tender terms.
Tender terms can be offered on a cash, yield or spread basis and can be run alongside a new issuance process on the BondAuction platform.
The platform again provides a fast, efficient, and transparent means of delivering outcomes in the primary markets.
BondAuction has registered buyside investors to the platform already that manage in excess of $10trn AUM, and continues to grow this.
For more information contact enquiries@bondauction.com