The city of Lugano, Switzerland, issues a digital bond worth 120 million Swiss francs through SDX

ChainCatcher news, the city of Lugano in Switzerland issued 120 million Swiss francs (139 million USD) in digital bonds, marking the third bond issued by the city. The city currently issues bonds exclusively through the SIX Digital Exchange (SDX).

Like past issuances, this bond is listed on both SDX and the main SIX exchange, and can be held in the SDX digital central securities depository (CSD) and SIS traditional depository.

"Lugano has optimized its debt management strategy, achieving more cost-effective financing than expected, which will help support Lugano's financial strength in the medium to long term," the city stated in a press release.

The city is the first non-financial institution to use SDX, having issued its first digital bond of 100 million Swiss francs in 2023. This is the first digital bond included by the Swiss National Bank (SNB) as part of the SNB General Collateral Basket.