Surteco debuts in Schuldschein market
Surteco, a German plastics manufacturer, doubled its initial €100m deal size, entering the Schuldschein market to refinance the acquisition of Probos, and used additional demand to repay an existing US private placement.
Leads BayernLB and Deutsche Bank offered investors five and seven year tranches in fixed and floating rate formats, and a 10 year fixed rate note — with consecutive margins of 80bp-100bp, 100bp-120bp and 120bp-140bp over Euribor.
“From the very beginning the reception was strong,” said one banker
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