RMB launches Intengo platform for corporate debt instruments
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RMB has announced the launch of Intengo, a more liquid and transparent digital marketplace for the issuance and investment of listed and unlisted corporate debt instruments in South Africa.
Intengo is the first and only marketplace in South Africa that is a single hub allowing users to issue debt instruments through online auctions, offer market transparency and insights, and enable deal settlement and acting as a document repository.
Originally incubated by RMB, Intengo was now available to investment-grade corporates who wanted to raise funding from the debt capital markets, and in the next phase, would be available to investors who want to invest in these instruments, the company said.
Aspen Pharmacare was the first corporate to utilise the Intengo marketplace by raising R410 million in a recent bond auction.
Emrie Brown, the head of the banking division at RMB, said Intengo’s goal was to provide corporate and institutional clients that participate in fixed income auctions with a seamless experience that offered issuers real-time insights into the auction process.
“By streamlining the processes and providing market transparency, Intengo aims to attract more corporate issuers to utilise the debt capital markets to raise funding. Also, the upcoming secondary marketplace module will assist investors with more accurate price discovery, resulting in deeper pools of liquidity.”