Schuldschein mimics MTNs in offering tenors on request

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By Silas Brown
02 Jun 2020

Barry Callebaut, the Franco-Belgian chocolate maker now registered in Switzerland, launched a Schuldschein on Tuesday offering investors tenors "upon request" alongside two, five and eight year maturities. Robert Bosch did that too, when it reopened the market last month. This is a feature that arrangers say will increase in a post Covid world.

LBBW, SEB and Société Générale, as well as the affiliates Rabobank and Raiffeisen Bank International, are arranging the deal for Barry Callebaut Services, a subsidiary of Barry Callebaut registered in Belgium.

Barry Callebaut is looking for a minimum of €150m-equivalent in euros and Swiss francs at ...

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