Schuldschein reverts to roots after Covid panic

By Silas Brown
08 Sep 2020

The Schuldschein market, which has spent the last few years growing increasingly international compared to its domestic origins in Germany, has lost its adventurous streak due to the coronavirus pandemic. Forays into unknown territories with borrowers from new industries are being treated with trepidation and lenders are heading back to what they know best.

The Schuldschein market is starting to come back to life after months of stolid and infrequent flow. There are €100m-plus deals in the market from Arcadis, Freudenberg, Eurofins, Pierer and Phoenix Pharma among others.  

But several market participants have told GlobalCapital that the likelihood of issuance from outside Europe ...

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