Alternative (Mikro Kapital) EUR Asset Backed eNote

Alternative (Mikro Kapital) EUR Asset-Backed eNote is a tokenized debt instrument issued by Mikro Kapital on Obligate platform. This eNote offers on-chain access to Mikro Kapital's broad Alternative strategy with €390 million in assets under management.

This blockchain-based securitization fund is represented as ERC-20 tokens, fully compliant with the CMTAT standard, and available on the Base and Polygon blockchains.

The issuance offers an annual yield of 9% with a 12-month maturity for bonds denominated in euros. Higher yields are available for longer maturities, with options extending up to 5 years upon request. Subscriptions are exclusively open to professional and qualified investors through the Obligate platform.

Structured under Articles 973d et seq. of the Swiss Code of Obligations, the eNote adheres to the Distributed Ledger Technology (DLT) Act in Switzerland.

The issuance is a senior unsecured debt note, each unit is denominated at €10,000, providing quarterly coupon payments in EURC stablecoin.

Proceeds raised by Mikro Kapital are invested in local portfolio companies specializing in microloans to MSMEs in Central and Eastern Europe and emerging countries. These investments are fully hedged against foreign currency risks and backed by an equity buffer of €68 million (representing 17% of the Alternative securitization fund's assets under management).