Mann+Hummel struggles in Schuldschein market amid splurge in auto trades
Mann+Hummel, a veteran borrower in the Schuldschein market, struggled to place a Schuldschein, according to market sources, with participants citing ZF Friedrichshafen’s blockbuster transaction as well as the market’s over-indulgence in the auto sector this year as chief reasons.
BNP Paribas, ING and UniCredit arranged the green Schuldschein, offering investors five, seven, eight and 10 years notes at initial ranges of 160bp-180bp, 200bp-220bp, 220bp-220bp and in the area of 250bp respectively.The initial size was €150m but that could possibly rise if the demand was there — ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com