Schuldschein market hits record lows as margins tumble

By Silas Brown
27 Apr 2017

B. Braun, the German medical and pharmaceutical devices firm, set a new Schuldschein record for low margins, launching a €150m triple tranche transaction amid increasingly aggressive pricing conditions.

DZ Bank and Helaba offered tranches of six, eight and 10 years to Schuldschein investors, with margin ranges of 50bp-60bp, 65bp-75bp and 75bp-85bp respectively.

B. Braun, as a German issuer that has entered the market before, is well known to domestic lenders. “It’s a middle of the fairway ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.