White & Case advises NowCM on creation of digital and fully automated commercial paper platform

Global law firm White & Case LLP has advised NowCM, a global technology leader in digital and automated bond issuance, on the launch of NextGenCP, a novel platform with integrated legal advice for corporate and other commercial paper (CP) issuers.

"White & Case is a global law firm that promotes innovative technologies and supporting the launch of NextGenCP helps to further open the German commercial paper market," said White & Case partner Karsten Wöckener, Head of Germany. "We are confident that the combination of our legal expertise, Haniel's insights and NowCM's technology will ensure that NextGenCP finds many users and open a new era of financing in the money markets."

Family-owned investment holding company Franz Haniel & Cie. GmbH (Haniel), together with NowCM and White & Case, is the platform's first issuer. Since launch, Haniel has processed several double-digit million amounts in various transactions via NowCM's issuance vehicle under the name 'Haniel enkelfähig'.

The White & Case team in Frankfurt that advised on the transaction was led by partner Karsten Wöckener and included local partner Felix Biedermann and associates Darleen Stöckl and Domenik Mack.

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