French retailer Auchan shops for cash in Schuldschein market

By Silas Brown
18 May 2020

French retailer Auchan has launched a Schuldschein, the first non-German corporate to enter the market since coronavirus hit European capital markets.

Commerzbank, Société Générale and UniCredit are arranging the fixed and floating rate deal, offering investors tenors of three, five and seven years. Spread ranges are 200bp-230bp, 240bp-270bp and 290bp-320bp for each maturity respectively, priced over mid-swaps or six month Euribor, accordingly. 

Standard & Poor’s rates Auchan BBB- with a ...

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