Faber-Castell pencils in sustainability-linked SSD

By Silas Brown
08 Jan 2020

Faber-Castell, the German manufacturer of office supplies, was the second borrower to enter the Schuldschein market in 2020, offering five and seven year notes with a sustainability-linked ratchet on Wednesday.

DZ Bank and UniCredit are arranging the transaction, offering investors five and seven years notes. The initial size is €30m.

Spread ranges are 65bp-80bp and 80bp-95bp over mid-swaps for fixed rates and six month Euribor for floating rate notes.

There is a 2bp step-up or step-down depending on whether Faber-Castell fulfils certain sustainability criteria. ...

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