Secured Schuldschein: a product whose time has come?

23 Aug 2012

Germany’s Schuldschein product could be set to develop into a new area, with issuers calling for a secured format.

The part-bond, part-loan product is currently unsecured, and some of its attraction lies in its simple and lean documentation compared to a typical public bond transaction.

The Schuldschein also offers access to a different investor base than bonds and loans. Issuers like the flexible maturity mix that the ...

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