BMW sells quick SSD as German autos test private debt
BMW has raised €200m from a single investor in the Schuldschein market, according to several market sources. Arrangers are talking with Schuldschein investors to gauge appetite for German auto manufacturers as the Covid-19 pandemic wreaks havoc on corporate earnings.
BayernLB arranged the five year transaction for BMW, according to market sources, which was closed last week. The issue paid a margin in the region of 135bp-150bp and was sold to a single investor, said to be a commercial bank from Europe or Asia.BMW is not the only ...
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