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Overbond Press Releases

Public Relations - Press Releases

Overbond Digitizes Deal Execution for the World’s Primary Bond Issuance Market with the Launch of OverbondX

“All to all” information flows underpin newly launched Overbond deal execution capability; OverbondX enables corporate and government bond issuers, dealers, and investors to now facilitate all aspects of deal execution from within the Overbond platform

TORONTO and NEW YORK — January 25, 2017 — Overbond Ltd., the company behind the first end-to-end platform for bond origination, announced today the launch of OverbondX, an integrated Deal Execution module within the Overbond platform. OverbondX enables issuers of any size to digitally facilitate execution of both private placement and public offerings, and enables investors and dealers to view and input orders from within the Overbond platform – while reducing operational risk and transaction costs for all parties.
Overbond is the first fully-integrated platform for the bond origination market that directly connects corporate and government issuers with dealers, institutional investors, and select retail investors. With the launch of OverbondX, counterparties now have a holistic view of real-time deal communication, optimal price discovery, investor order book management and deal working group management, predictive analytics, digital trade facilitation, and post deal analysis from within the platform. They can also view and share documents, receive and provide real-time updates, and progress through all the steps required to successfully execute a syndicated or non-syndicated offering in institutional, mid-market, or private markets.
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“For the first time in the history of the bond market, corporate and government issuers, dealers and investors have all the tools required to digitally execute transactions for the entire primary bond issuance process, from pre-launch deal preparation to post-launch execution,” said Vuk Magdelinic, CEO of Overbond.

Delivering Significant Benefits to Bond Issuers and Investors

OverbondX provides several important benefits to participants in the bond market:
  • By digitizing the entire deal execution process, issuers can get to market faster to take advantage of favorable market timing and access a broader investor base.
  • It reduces the cost of new issuance by standardizing all aspects of deal execution.
  • It drives operational efficiencies by reducing the issuance time.
  • It provides an opportunity to optimize cash management by enabling opportunistic offerings.
  • Issuers can also manage funding targets with dealers and investors, allowing for a more vibrant and efficient primary market process.
  • Issuers can access valuable market insights to make sound funding decisions and build stronger relationships with their investor base.
  • To ensure compliance with the regulation on market abuse (MAR) in Europe and its extraterritorial implications across the global dealer community, the Overbond platform streamlines deal and non-deal related communication.
“Innovation in the securities market is not only long overdue, but essential in driving a more efficient and collaborative bond issuance process. It’s very refreshing to see a fintech startup like Overbond delivering on its vision for a completely digital bond market that benefits issuers, dealers, and investors,” said Jacqueline Szeto, Vice President of Canso Investment Counsel Ltd. “By transforming what is now a largely manual, legacy system, all participants in the bond market will benefit from the increased transparency and efficiencies made possible by the Overbond platform.”
Overbond’s rapidly growing issuer client base of more than 100 clients includes Burger King, Molson Coors, Couche-Tard, and Bell. Investor clients are some of the largest investors in North America such as Mackenzie Financial, Sprott Asset Management and CBC Pension. Overbond customers benefit from the platform’s seamless integration of Thomson Reuters fixed income market data and DBRS credit ratings.

About Overbond

Founded in 2015, Overbond is rapidly transforming how global investment banks, institutional investors, corporations and governments connect and access the primary fixed income market. Overbond's fully-digital platform for primary bond issuance eliminates inefficiencies, provides higher transparency, optimal price discovery, and investor diversification for all counterparties in the primary bond market. The company's growing client base includes investment-grade corporate issuers that are looking to better manage their large borrowing programs, with the combined value of more than $120 billion in outstanding bonds. Overbond is headquartered in Toronto with operations in New York. For more information, please visit https://www.overbond.com

Media Contacts

Michele McDermott-Fox
Boulevard Public Relations
905-379-1893
michele@boulevardpr.com

DBRS Credit Ratings Integrated with Overbond Platform

Primary Bond market investors, issuers, and dealers will be able to access and analyze DBRS ratings data and links to issuer-level research reports directly from Overbond platform

TORONTO and NEW YORK — December 14, 2016 — DBRS, a global provider of credit ratings, and Overbond, the first fully-digital platform for primary bond issuance, announced today an arrangement to provide participants in the primary bond origination market with access to DBRS ratings data and proprietary DBRS research reports, integrated into the Overbond platform.
The dramatic rise in primary bond market transaction volumes has increased the demand for credit ratings information. The integration of the DBRS ratings data within the Overbond platform allows for greater efficiency throughout the bond issuance process, and provides market participants with valuable and timely credit rating information regarding their portfolio investments and data analysis.
"Investors that look at the credit ratings of company or government debt as part of their considerations regarding different bonds now have direct access to this information from within the Overbond platform," said Vuk Magdelinic, CEO and co-founder of Overbond. "The integration of DBRS proprietary RatingsNow data into the Overbond platform provides investors, issuers, and dealers easy access to data that supports informed investment decision-making, and evaluation and monitoring of risk."
This integration provides Overbond users with access to credit event alerts and rating actions via the Overbond platform. Additionally, this information will allow users the ability to analyze and visualize historical ratings data.
"DBRS is pleased to be working with, and providing ratings information to Overbond as they seek to increase technological innovation and efficiencies in the capital markets", said Doug Turnbull, Vice Chairman – Head of Canada for DBRS.

About DBRS

DBRS is an independent, privately held, globally recognized credit ratings agency with offices in Toronto, New York, London, Chicago and Mexico City. Founded in 1976, DBRS is a rapidly growing, international ratings agency. DBRS’s four decades of experience and strong track record provide the foundation to seek out new opportunities and to make targeted investments that align with its core ratings operations. As the world’s fourth-largest rating agency, DBRS’s approach and size allow it to be nimble to respond to our customers’ needs in their local markets and large enough to provide the requisite expertise and resources. DBRS rates more than 2,400 issuer families and nearly 50,000 securities worldwide.

About Overbond

Founded in 2015, Overbond is rapidly transforming how global investment banks, institutional investors, corporations and governments connect and access the primary fixed income market. Overbond's fully-digital platform for primary bond issuance eliminates inefficiencies, provides higher transparency, optimal price discovery, and investor diversification for all counterparties in the primary bond market. The company's growing client base includes investment-grade corporate issuers that are looking to better manage their large borrowing programs, some of which include $20 billion in outstanding bonds. Overbond is headquartered in Toronto with operations in New York. For more information, please visit https://www.overbond.com

Media Contacts

Stephen Bernard
DBRS Inc.
212-806-3240
sbernard@dbrs.com
Michele McDermott-Fox
Boulevard Public Relations (for Overbond)
905-379-1893
michele@boulevardpr.com

Overbond Integrates Thomson Reuters Fixed-Income Market Data with Overbond Platform

Access to Thomson Reuters fixed income market data and market analytics within the Overbond platform optimizes price discovery for participants in the primary bond origination market

TORONTO, ON and NEW YORK, NY — (Marketwired - November 03, 2016) — Overbond Ltd., the first fintech platform in the new bond issuance market, today announced a partnership with Thomson Reuters that will see fixed income market data and analytics integrated within the Overbond platform. Through Thomson Reuters Labs, the companies will also be exploring opportunities to drive further innovation in the fixed income capital markets through collaborative research and development.
Overbond is the first fully-integrated platform to directly connect corporate and government bond market issuers with dealers and fixed-income investors. The proprietary platform features end-to-end processing capability and a support framework for primary bond origination transforming primary bond issuance into a fully-digital, transparent, and secure process from pre-deal research straight through to deal execution.
Overbond's cloud-based platform modernizes all aspects of bond origination by providing secure communications, price discovery, and custom reporting and analytics, while reducing operational risk and transaction costs for issuers, dealers, and investors. With secondary market liquidity significantly reduced, it is challenging to benchmark and price discover new bond offerings. The integration of the Thomson Reuters data product suite is designed to improve the flow of information and increase transparency by providing Overbond users with access to essential data and analytics required for effective price discovery in the primary bond origination market.
"Access to Thomson Reuters' data universe and market analytics within the Overbond platform optimizes price discovery for participants in the primary bond origination market," said Vuk Magdelinic, CEO of Overbond. "Through our partnership with Thomson Reuters, the Overbond platform now provides market participants with unparalleled price discovery capabilities to help them navigate what is currently a very challenging fixed income market."
"This integrated offering from Overbond is a step forward in addressing current secondary market liquidity challenges and enabling digital bond origination," said Jamie Grant, Global Head of Rates & Credit at Thomson Reuters. "Thomson Reuters' open platform strategy enables us to support innovation across financial markets. We look forward to working with the team at Overbond to develop innovative new solutions that solve some of the most complex challenges faced by the participants in the primary bond market, such as transparency and efficient allocation of capital."
Future product collaborations between Overbond and Thomson Reuters will be facilitated through Thomson Reuters Labs - Waterloo Region.

About Overbond

Founded in 2015, Overbond is rapidly transforming how global investment banks, institutional investors, corporations and governments connect and access the primary fixed income market. Overbond's fully-digital platform for primary bond issuance eliminates inefficiencies, provides higher transparency, optimal price discovery, and investor diversification for all counterparties in the primary bond market.
Overbond recently closed a $7.5 million seed financing round with Morrison Financial Services. The company's growing client base includes investment-grade corporate issuers that are looking to better manage their large borrowing programs, some of which include $20 billion in outstanding bonds.
Overbond is headquartered in Toronto with operations in New York. The company emerged from the MaRS fintech cluster and the Communitech technology innovation super-cluster -- two globally renowned centres of technology and innovation. Overbond's momentum is rooted in the collective strength and experience of its team in the disciplines of fintech software development, capital markets, and technology and legal compliance gained via Wall Street, Bay Street, and Silicon Valley. For more information, please visit https://www.overbond.com

Media Contacts

Michele McDermott-Fox
Boulevard Public Relations
905-379-1893
michele@boulevardpr.com

Overbond Launches the First End-to-End Platform for Primary Bond Origination

TORONTO — June 29, 2016 — Overbond Ltd., the first fintech entrant into the new bond issuance market, has launched an end-to-end platform and support framework for primary bond origination. The fully-digital Overbond platform for primary bond issuance provides higher transparency, better price discovery, and investor diversification for all counterparties in the primary bond market. It is the first fully-integrated platform to connect bond market issuers, dealers, and fixed-income investors.
"We are the first fintech company focused on bringing the multi-trillion-dollar primary bond market closer to a completely digital approach," says Vuk Magdelinic, CEO of Overbond. "While much of the financial services market is embracing digital processes to streamline how they do business, primary bond origination remains one of the few asset classes that still relies on manual processes."
The new digital platform modernizes all aspects of bond origination by providing secure communications, real-time market updates, and custom reporting and analytics, while reducing infrastructure and transaction costs for issuers, dealers, and investors.
Earlier this year the company launched Overbond BPS, a solution that improves issuer-dealer communication and provides advanced market analytics. Today's launch adds another layer of functionality by connecting investors to the network. With the addition of the investor-dealer module, Overbond has achieved its first goal of bringing all bond market participants together on a transparent, secure, and highly efficient cloud-based platform. With the Overbond platform, dealers now have access to digital price discovery tools, while investors have more efficient access to information.

Solving a Decades Long Challenge

The secondary bond market, which directly impacts pricing benchmarks in the primary bond market, has seen a significant reduction in trading volumes in recent years. Factors contributing to this decline include increasingly strict industry regulations and the manual approach used in trading fixed-income securities -- including origination and communication processes that have not changed significantly in more than 50 years.
"Overbond is solving this decades long challenge for the entire primary bond market using a digital approach that brings all stakeholders together so that bond issuance can be digitally facilitated, and benchmark prices can be discovered more efficiently," says Magdelinic.
Founded in 2015, Overbond recently received $7.5-million in seed financing from Morrison Financial Services. The company's growing client base includes investment-grade corporate issuers that are looking to better manage their large borrowing programs, some of which include $20 billion in outstanding bonds. The treasurers of these organizations are increasingly focused on investor diversification as well as their ability to efficiently discover new bond pricing. They are working actively with Overbond to build stronger business relationships and streamline processes.

About Overbond

Toronto-based Overbond brings all bond market participants together through a platform that makes new bond issuance digital, transparent, and secure. Overbond connects corporate and government issuers with dealers and investors directly. Overbond emerged from the MaRS fintech cluster and the Communitech technology innovation super-cluster – two globally renowned centres of technology and innovation. Overbond’s momentum is rooted in the strength and experience of its team, which comprises industry professionals in the fields of fintech software, capital markets, technology and legal compliance – a team whose experience draws from Wall Street, Bay Street, and Silicon Valley. For more information, please visit https://www.overbond.com

Media Contacts

Jodi Echakowitz
Boulevard Public Relations
905-709-9600
Jodi@boulevardpr.com

Overbond Secures $7.5M in Seed Financing

Injection of Capital Positions Overbond to Transform Investment Banking and Bond Issuance Market

TORONTO — June 16, 2016 — Overbond Ltd., the first fintech platform for digital bond issuance, has closed a $7.5-million seed financing round with Morrison Financial Services Limited. The deal marks a significant step forward for the company as the first fintech entrant into the new bond issuance market. Overbond plans to use the financing to expand its fully-digital primary bond issuance platform.
“Overbond’s experienced team is making a significant impact in institutional capital markets,” said David Morrison, president of Morrison Financial. “Our investment combined with Overbond’s vision will no doubt have a significant impact on how new bonds are issued.”
Overbond brings benefits to everyone in the primary bond market — higher transparency, better price discovery, and investor diversification. It also helps to streamline all stages of the process from bond origination through deal execution, analytics and communication.
“We look forward to the next phase of working with our clients – investment banks, corporate and government bond issuers and fixed-income investors – to help investment banking and bond issuance transition to a digital approach,” said Vuk Magdelinic, CEO of Overbond.

Charting the Way in Digital Bond Issuance

Earlier this year, Overbond introduced Overbond BPS, a cloud-based solution that streamlines dealer-issuer communication and provides advanced market analytics. Every year corporate treasurers receive on average 2,314,900 bond market updates by email and consume 125,000 hours of their time in managing this information in Canada alone. This problem is orders of magnitude bigger in the U.S. Overbond digitizes the end-to-end process, allowing dealers to focus on their clients’ needs.

About Overbond

Toronto-based Overbond brings all bond market participants together through a platform that makes new bond issuance digital, transparent, and secure. Overbond connects corporate and government issuers with dealers and investors directly. Overbond emerged from the MaRS fintech cluster and the Communitech technology innovation super-cluster – two globally renowned centres of technology and innovation. Overbond’s momentum is rooted in the strength and experience of its team, which comprises industry professionals in the fields of fintech software, capital markets, technology and legal compliance – a team whose experience draws from Wall Street, Bay Street, and Silicon Valley. For more information, please visit https://www.overbond.com

Media Contacts

Jodi Echakowitz
Boulevard Public Relations
905-709-9600
Jodi@boulevardpr.com

Changing the Face of the World's Largest Capital Market

A powerful new fintech platform paves the way towards the future of digital bond origination

Toronto, Ont., Canada — April 25, 2016 — For the past fifty years, the process of corporations raising money in the bond market hasn’t changed much. Bankers and corporations call each other and send individual files, one at a time, over and over again. The medium has changed — faxes turned into emails — but the core concept hasn’t. Considering that bond origination is a multi-trillion-dollar industry, it must be asked: isn’t there a better way?
Today marks the release of Overbond bps — the first end-to-end, two-way pricing communication tool for bond issuers and dealers. This exciting new entrant in the rapidly growing fintech industry promises to drastically increase efficiency in the international bond market — and make bond issuance digital, transparent and secure.
On average, Canadian dealers and issuers exchange over 2.3 million bond pricing emails every year, each with individually created files. Consequently, these tasks require hundreds of thousands of hours of labour every year — labour that, in an era of information efficiency, could be better spent. “It’s a mind-blowing problem.” says Overbond’s co-founder Vuk Magdelinic.
Throughout the financial world, processes that were once physical are being transformed by the capabilities of new technologies. Overbond bps relies on industry-leading cloud security infrastructure, ensuring that the important information and data involved in bond issuance captures the best of both worlds: it is easily available, and highly secure. This represents the first step towards the future of digital bond origination — a future that is more efficient, more transparent, and easier for all parties involved.
The Overbond team comprises industry professionals in the fields of fintech software, capital markets, technology and legal compliance — a team whose experience draws from both Wall Street and Bay Street. “We’ve worked with the banks,” says co-founder Han Ryoo, who emphasizes that the team are “solution providers” with an intimate understanding of the problems they are seeking to solve.
In the global economy, digital platforms and fintech innovation are the way of the future.
For more information visit: https://www.overbond.com

Media Contacts

Jodi Echakowitz
Boulevard Public Relations
905-709-9600
Jodi@boulevardpr.com

Overbond works with some of the largest borrowers, investors and dealers in North America

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