Auto industry takes comfort and cash in Schuldschein market
The car industry has long been a staple of the Schuldschein market, but this year more than borrowers than usual have taken a spin round the market in search of debt. The product has attracted a wide range of manufacturers, from its native Germany and the rest of Europe.
Gestamp, the Spanish automotive engineering company, is marketing 3.5, five and 6.5 year debt via BayernLB, Commerzbank and UniCredit, at pricing ranges of 185bp-205bp, 210bp-230bp and 240bp-260bp respectively. The initial size is €100m.German car component maker Mann+Hummel launched a €150m green Schuldschein in early September, at five, ...
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