- To the article in VDI Nachrichten (Paywall)
VDI Nachrichten reports on the promissory note as a flexible alternative to traditional bank loans and the advantages of digital platforms. The increased transparency and the ability to directly contact investors are further enhanced by documentation standardization, such as the LMA model contract.
According to Sebastian Brauer (Head of Corporate Finance & Treasury at Open Grid Europe GmbH and member of the Equity & Debt department at the Association of German Treasurers (VDT)), the platforms will only be widely accepted once the market consolidates on a few platforms.
Dr. Ralf Kauther, CEO of credX, emphasizes its unique positioning as a neutral infrastructure provider: The credX platform offers a secure technical and legal framework for the transaction, matches company requests with investor profiles, and provides suitable processing channels for the various instruments. Further services related to the promissory note process, such as corporate finance consulting for issuers and support for investors in evaluating the investment, are integrated into the platform. However, these are deliberately not provided by credX itself, but by third parties, which are selected and managed by the transaction partners themselves. This eliminates conflicts of interest compared to the traditional process, and the platform is equally attractive for all types of transaction participants.