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Overbond Press Releases

Public Relations - Press Releases

Overbond Expansion in U.S. Multiplies Bond Issuance Opportunities; New Digital Channels to Increase Fixed Income Market Liquidity

Overbond expands operations with digital omni-channel strategy and New York office to target $40 trillion U.S. bond market

TORONTO and NEW YORK — November 17, 2017 — Overbond Ltd., the first end-to-end Capital Markets platform for primary bond origination and fixed income deal execution, has expanded real-time access to the Overbond Platform to all US corporate issuers and institutional investors by extending key functionality via desktop and mobile applications for all operating systems. Overbond has also expanded its presence in the US with the opening of a New York office in Grand Central Tech.

Enhanced Market Data and Analytics for All Devices

Overbond’s proprietary machine learning and powerful predictive analytics capabilities are now delivering real-time credit investment opportunities to investors via mobile and desktop applications and smart notification systems on both iOS and Android devices. The new mobile application distributes COBI (Corporate Bond Intelligence) Opportunities and has already delivered more than 3,000 credit investment opportunities. It will extend the service’s reach to 5,000 new U.S. based market participants to bring a new supply of bond issuance, creating much needed new liquidity in the corporate debt markets.
Overbond has also enriched its big data analytics suite for primary bond market quotations through new platform integrations with Egan-Jones Rating Company (EJR), Moody’s and Standard & Poor’s and credit ratings data, complementing existing integrations with Thomson Reuters and DBRS.

New Advisory Board Spanning Canada and the U.S.

To support its expansion into the U.S. market, the company has appointed a cross-border, senior Overbond Advisory Board that brings extensive expertise across all facets of capital markets, investment banking, and financial technology. Board members include NYC-based Jamie Grant, Global Head of Fixed Income and Enterprise Market Data at Thomson Reuters; Grace Schalkwyk, CEO of Gramercy Digital Strategy Advisors; and Jose Luis Frias, Senior Corporate Finance and Debt Capital Markets Executive.
“The outstanding leaders that have joined our Advisory Board will play an important role as we expand and strengthen Overbond’s presence in U.S. capital markets,” said Vuk Magdelinic, CEO of Overbond.
Grant, Schalkwyk, Frias are joined on Overbond’s advisory board by Karen Basian, Board Director at GoEasy and Managing Director at Newtopia; Michael McCarthy, CEO at MSI Solutions; Philip Poulidis, Strategic Advisor at eleven-x and Net Cognitive Partners, as well as entrepreneur and Angel Investor; Brendan Kenalty, Director of Marketing at L3 Wescam; Rokham Fard, serial entrepreneur and founder of TheRedPin; and, Gyan Chandra, Vice President at IBM Canada.
In partnership with Greenwich Associates, Overbond is hosting a thought leadership discussion on Wednesday, November 29 at 1 p.m. ET on “Improving the Debt New Issue Process”. Participants can register to attend here.

About Overbond

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 client base includes some of Canada’s largest corporate issuers, spanning the energy, utilities, financial services, and telecoms industries. Overbond is headquartered in Toronto with offices in New York. For more information visit https://www.overbond.com

Media Contact

Michele McDermott-Fox
Boulevard Public Relations
Tel: 1.905.379.1893
michele@boulevardpr.com

Overbond Expands Primary Bond Market Deal Capabilities with Corporate Bond Intelligence and OpenFin Integration

New product breakthrough applies machine learning and predictive analytics to match investors with real-time credit investment opportunities

TORONTO and NEW YORK — September 12, 2017 — Overbond Ltd., the first end-to-end capital markets fintech platform for primary bond origination, has launched COBI Opportunities, a new proprietary issuer-investor matching solution for primary bond markets.
COBI (Corporate Bond Intelligence) is a comprehensive suite of Overbond tools that enhance relationships between investors and corporate bond issuers through better price discovery, leading to more efficient deal benchmarking, participation, and execution. Since early access began in July, COBI has already provided investors with more than 3,000 credit investment opportunities or issuer-investor matches for new bond deals likely to come to market.
"All-to-all information flow in the fixed income marketplace is driving investment banking into the future," says Vuk Magdelinic, CEO of Overbond. "Currently, investor access to quality corporate credit is limited to benchmark size new bond issues. Our clients are utilizing powerful COBI algorithms to make investment decisions and gain access to deals that are otherwise unavailable."
Overbond has been selected to debut its COBI Opportunities module and platform enhancements at FinovateFall 2017 in NYC, the exclusive conference for fintech innovation in the banking and financial technology sectors.
"At Finovate, our mission is to showcase technology that creates solutions to longstanding problems," said Greg Palmer, VP of Finovate. "Overbond is doing some great work in primary bond markets, and we are delighted to have them present their product breakthrough at FinovateFall 2017."

OpenFin Integration Provides a Native Desktop Experience for Overbond Users

Overbond has also announced a partnership with OpenFin, the world's first common operating layer for financial desktop applications. This partnership will enable Overbond to better serve users by providing real-time updates on new issue deals and issuer-investor matches, greater digital accessibility, and faster deployment through a native desktop experience. Overbond will utilize OpenFin's operating layer to rapidly and seamlessly deploy upgraded versions of its Software as a Service (SaaS) platform for its client network of corporate issuers, investment dealers, and institutional investors in Canada and the U.S.
"At OpenFin our goal is to enable and support rapid growth and technical innovation in capital markets on par with that seen in Silicon Valley tech companies," said Mazy Dar, CEO and co-founder of OpenFin. "Working with Overbond, one of our very first Canadian partners, to support their ambition in on-demand matchmaking and corporate bond intelligence is well aligned with our mission, and also perfectly demonstrates the capabilities of the OpenFin platform."
Since raising $7.5M in seed funding one year ago, Overbond has focused on scaling its digital bond origination product in the global fixed income market. It now serves 250 users on its platform, equivalent to more than 40% of the fixed income market in Canada and rapidly scaling in US.

About Overbond

Founded in 2015, Overbond is 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 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

Michele McDermott-Fox
Boulevard Public Relations
Tel: 905.379.1893
michele@boulevardpr.com

Swap Pricing Calculator Added to Overbond Corporate Bond Intelligence Toolkit

Overbond offers industry-wide access to new COBI Swap Pricing calculator. Proprietary technology caters to surge in cross-border bond issuance

TORONTO and NEW YORK — May 8, 2017 — Overbond Ltd., the first end-to-end Capital Markets fintech platform for primary bond origination, has unveiled its new Corporate Bond Intelligence Tool (COBI) Swap Pricing calculator with advanced analytics and visualisation. The digital tool helps treasurers more effectively evaluate funding costs in multiple currencies and markets simultaneously.
Overbond’s COBI Swap, powered by Thomson Reuters data, is the first institutional-grade swap calculator that is offered industry-wide to fixed income capital markets participants on a non-subscription basis.
The proprietary tool has been developed in response to the 40 percent surge in Canadian corporations issuing bonds offshore in the U.S. and Europe, equating to $157 billion in 2016 alone, and then swapping back into Canadian dollars – a trend examined in Overbond’s new “Cross-Border Bond Issuance Dynamics” study.
The COBI Swap enables corporate treasurers to better navigate structural changes in the fixed income market, access offshore bond markets, and achieve lower funding costs, along with natural hedge capabilities and funding diversification.
“Timely and accurate swap pricing is an essential tool that enables treasurers to more opportunistically access international markets to meet their debt funding requirements,” said Vuk Magdelinic, CEO of Overbond. “This app is a continuation of our fresh, innovative, and transparent approach to providing bond market participants with a diverse offering of critical capabilities and insights. We are pleased to offer this new technology industry-wide as an open platform, accessible on a non-subscription basis.”
Advanced features include real-time swapped equivalent rates for prospective new issues, instantaneous computation of CAD and USD single currency interest rate and cross-currency swap rates, and interactive swap curve visualisation for seamless comparison of implied funding costs against different benchmarks and in multiple markets. Overbond’s COBI Swap is unique in enabling a user to price up to five swaps in different tenors and rate types simultaneously.The app also provides the facility to download and export reports.
At launch the COBI swap pricer calculates USD/CAD swaps and will be expanded within weeks to include USD/EUR, a feature which will significantly benefit U.S. corporations.
To access the new Overbond COBI Swap Pricing please click here.
View and download the “Cross-Border Bond Issuance Dynamics” study.

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. The Overbond network has now reached over 100 active institutional investor and large corporate issuer users, and is expected to double in the next quarter.
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
Tel: 905.379.1893
michele@boulevardpr.com

Wattpad, Wealthsimple and Overbond Join the Upside Foundation's 150x150 Challenge to Canadian Startups to Give Back

Over 75 Canadian startups have already pledged to donate equity to charity

TORONTO, ON, April 4, 2017 — Today The Upside Foundation, a national charity that makes it easy for early-stage or high-growth Canadian companies to give back in a meaningful way, announced the launch of their campaign, 150×150: Turn Equity Into Charity. The campaign aims to grow the number of companies who have pledged to give back to 150, as we celebrate Canada’s 150th birthday. Canadian startups who make the pledge will donate a small portion of their equity to The Upside Foundation (typically in the form of stock options), which are converted to cash upon a liquidity event and donated to the charity of the company’s choosing. The Upside Foundation is also announcing several prominent Canadian startups who have taken the Upside pledge, including Wattpad, the Toronto-based entertainment company for original stories, as the first company to kick-off the 150×150 challenge.
“The Upside Foundation provides an easy solution for both early-stage startups and high-growth companies who want to give back but don’t necessarily have the time or money,” said Rob Antoniades, Board Chair and Co-founder of The Upside Foundation. “Through this national campaign, we hope to empower 150 Canadian startups to take the pledge to donate a portion of their equity and help build a stronger future for Canada.”
The Upside Foundation is partnered with Pledge 1%, a global movement founded by the Salesforce Foundation and others to inspire companies around the world about the benefits of early stage corporate philanthropy. Through Pledge 1%, over 1800 companies have donated one per cent of their equity, people or product to charity. In Canada, over 75 companies have already taken the Upside pledge, including Hubba, which raised Series B in funding in December 2016. New members include Wattpad, Wealthsimple, and Overbond, with additional members to be announced leading up to Canada’s 150th birthday.
“At Wattpad, we believe startups aren’t just about profits, they’re about giving back to communities, at home and abroad. We’ve already made a remarkable impact on millions of people’s lives around the world. Today, we pledge to join the 150×150 campaign to demonstrate our continued commitment to positive social impact,” said Allen Lau, Wattpad co-founder and CEO. “Whether you’re in the early stages or a well-established start-up nearing exit, it always makes sense to support charities that serve your users and mean something to your team. If you haven’t already joined the Upside Foundation, what are you waiting for? Join the 150×150 campaign today!”
Any Canadian startup or private high-growth company can take the Upside pledge by committing stock options or warrants that will be converted to cash at the time of an exit or IPO, and donated to a registered Canadian charity.
“I’ve always believed in giving back to the community,” said Vuk Magdelinic, CEO of Overbond. “I’m proud that we have now found a way to make Overbond’s success mean that charities in the community will win alongside us.”
To date, there have been two exits from the Upside network, including BlueCat Networks, which sold for $400 million in February 2017; BlueCat CEO, Michael Harris donated the proceeds from a portion of his stock options to the Enbridge® Ride to Conquer Cancer® benefiting the Princess Margaret Cancer Centre. The first company to exit was Understoodit, who was acquired by EventMobi in 2013 and donated their equity proceeds to the East York Learning Experience and Mentoring Junior Kids Organization. The Upside Foundation is led by a coast to coast Board of Directors and Advisory Board of industry leaders and partners with leading incubators, accelerators and investors – creating a supportive community for members to be a part of.
“People work at startups because they want to effect change, and the Upside Foundation enables startup employees to have a meaningful impact on their community,” said Mike Katchen, founder and CEO of Wealthsimple. “Our team is proud to join the 150×150 challenge.”
How Companies Can Take the Pledge
The Upside Foundation encourages Canadian companies to join those who have already taken the pledge.
  1. Companies will need to fill out the online pledge form found on The Upside Foundation’s website and a representative will be in touch.
  2. Once the pledge form is received, companies will receive detailed instructions on how to contribute from an ESOP (employee stock ownership plan) or a simple legal form, with flexibility depending on the stage of the company.
About The Upside Foundation
The Upside Foundation is a charitable organization that allows startups to give back by donating equity in their company to Canadian charities. Early stage companies pledge stock options or warrants to The Upside Foundation, convertible into a small portion of equity.
To learn more about The Upside Foundation visit: www.upsidefoundation.ca

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 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

Overbond helps the largest issuers, investors and dealers in North America

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