Africa Finance Corporation has sold a 350 million Swiss franc digital bond, worth about $431 million, through SIX's SDX platform, marking the first time an African institution has issued such debt through a regulated exchange and central securities depository. The five-year note carries a 1.4925% coupon, was issued under AFC's $5 billion Global Medium-Term Note Programme and is structured as a tokenized security recorded on a regulated digital register using distributed ledger technology. Swiss accounts provided about 90% of demand, with banks and other financial companies taking 57% of the order book, and AFC said the proceeds will support general funding needs including infrastructure financing across Africa. Commerzbank AG and Deutsche Bank AG arranged the deal, which AFC described as the largest Swiss franc-denominated digital bond from an international issuer and another sign that tokenized securities are moving through existing regulated market infrastructure.