Germany’s Schuldschein market entered the second half of the year on strong form, after near-record issuance in the second quarter. But sharply tightening pricing in the bond market, which competes with it for deals, could yet scupper hopes for a record year.
Schuldschein bankers are starting the second half of the year with momentum, after a remarkable second quarter of 2019. Fifty transactions raised about €10bn, according to Helaba, bringing the first half total to €13.6bn.
But bankers are hesitant to predict a record-setting year for the market. “There’s a