RMB launches digital marketplace to help companies reduce reliance on bank loans
RMB’s debt funding platform Intengo aims to boost liquidity and lower costs in SA’s moribund corporate bond market
Rand Merchant Bank (RMB), the corporate and investment banking unit of FirstRand, has launched a digital debt marketplace that will allow companies to raise funding by issuing both listed and unlisted debt securities.
The digital funding platform, called Intengo, is available to creditworthy companies and will enable SA corporates to reduce their reliance on bank loans for funding by instead issuing debt instruments on an easily accessible online platform. RMB says the next phase of the Intengo platform, which has already been used by Aspen Pharmacare to raise R410m in capital via a recent bond auction, will be to allow secondary trading in the debt instruments, which it hopes will boost liquidity in SA’s corporate credit market...