CGS-CIMB launches S$150m commercial paper in digital securities on iSTOX
Move allows financial services provider to tap alternative source of funding and wider spectrum of investors; money raised will be used to fund operating expenses and near-term obligations
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Singapore
CGS-CIMB Securities (Singapore) has launched a S$150 million multi-tranche commercial paper entirely in digital securities on iSTOX, the digital securities platform backed by Singapore Exchange (SGX), as the financial services provider looks to widen its investor base.
Commercial papers are a form of unsecured, short-term debt instrument. In this case, the money raised will be used to fund CGS-CIMB's operating expenses and near-term obligations.
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