Bulgaria has joined a handful of SSAs to take advantage of Schuldschein funding in 2013. Bankers expect other borrowers to follow in 2014, but warn they will need to keep deal sizes small.
Belgium, Corporación Andina de Fomento, International Finance Corporation and Swedish Export Credit Corporation are considering using Schuldschein funding next year. Bulgaria, however, finished off the year by debuting in the market.
Bulgaria announced that it had priced a €290m triple tranche Schuldschein on December 14. Deutsche Bank and