HSBC has announced it will make its capital markets deal app, MyDeal, available to corporate clients later this year. The platform aggregates data on fund-raising transactions, such as bonds, and facilitates capital markets access for the bank's corporate clients.
The aim of MyDeal is to give “companies undertaking debt or equity transactions a wealth of information at the touch of a button”, said the bank in its press statement. Information provided through the platform includes investor feedback and profiles, client orders and deal pricing, all of which is needed during investor roadshows. Real-time updates on roadshow logistics are also given, including meeting and investor details, flight delays and contact information.
HSBC's Niall Cameron said: “Raising capital through capital markets can be a nerve-wracking and complex process. Executives don’t have time for admin while they’re rushing between meetings; they need to focus on promoting their deal. MyDeal radically simplifies some of the most time-consuming and stressful parts of the process. It gives you real-time access to all aspects of your deal – all available in one place.”
The app has been used internally at the bank since November 2017. HSBC now plans to release the app to its clients and make it available through the app store later this year.
HSBC's deal team used the platform to advise the pharmaceutical company Teva on its $4.5 billion multi-tranche, multi-currency bond deal. Teva’s CFO Mike McClellan commented: “The difference that MyDeal made in our offering was significant. It has given us a very simple solution to a complex and often frustrating set of processes. The HSBC team’s ability to access this information on the transaction allowed me and my colleagues to focus our time and energy on what mattered most during the origination period. Having everything in one place on a tablet made every day of the deal easier – to be honest, it’s a real game-changer.”
Issuing bonds in the capital markets is a notoriously complex process involving laborious paperwork. HSBC says the MyDeal app highlights how banks can use technology to deliver far better support for their clients, saving time and “bringing the capital markets into the 21st century”.
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