NASDAQ OMX (NASDAQ: NDAQ) today launches the new First North Bond Market in Finland. First North Bond Market Finland is an alternative marketplace offering companies the same services as the Main market but with lower listing requirements. It is a new funding alternative for non-listed medium-sized companies interested in issuing a corporate bond, and it is also a cost-efficient funding alternative for larger companies. The First North equity market was launched in 2006.
The new First North Bond Market Finland offers a faster and more flexible way to list corporate bonds. Compared to unlisted bonds, a First North listing improves visibility, brand recognition and transparency of the issuing company and its corporate bond, and hence increases the interest of investors.
Lauri Rosendahl, President of NASDAQ OMX Helsinki, said: “NASDAQ OMX expands the offering in Finland by launching new alternative debt funding for companies. Corporate bonds are a growing funding alternative to supplement traditional bank financing in particular as banks seem to continue to adjust their balance sheets.”
Companies listed on the First North Bond market do not need to publish the Financial Statements according to IFRS standards. A listing is also possible without a listing prospectus approved by the Financial Supervisory Authority. Furthermore, the Confederation of Finnish industries has made a complete set of contract templates available for companies to use.
NASDAQ OMX launched First North Bond Market in Denmark and Sweden in December 2012.