Covid dries up Schuldschein debuts

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By Silas Brown
24 Sep 2020

New research from analysts at Helaba points to a flight to safety in the Schuldschein market over the course of 2020. Rated issuers are making up a bigger share of deals than they have for a decade, and there have been next to no debuts. Schuldschein arrangers hope this conservative trend does not continue into 2021.

Out of the 70 issues placed this year, Helaba found that 24 – or roughly 35% – were from rated companies. This is a higher proportion than in any year since 2009.  

Ulrich Kirschner, a senior analyst at Helaba who prepared the report, said on Thursday that this was ...

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