DIC offers TLTRO SSD ‘fast track’

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By Silas Brown
03 Mar 2021

German commercial real estate company DIC Asset has launched its second Schuldschein, for an initial target of €100m, according to a term sheet distributed to investors. The debt’s margins will be tied to the proportion of green assets the borrower has on its balance sheet. Most notably, there is a ‘fast track’ settlement date for banks needing to secure assets before an ECB funding deadline that falls at the end of this month.

BayernLB, ING and LBBW are arranging the deal, which will have three, five, seven and 10 year tenors. Spread ranges are 165bp-185bp, 185bp-210bp, 210bp-235bp and 240bp-265p, priced over six month Euribor for floating rate notes, and mid-swaps for the fixed rate pieces.

There are two settlement dates for ...

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