Faber-Castell pencils in sustainability-linked SSD
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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