Dyckerhoff launches Schuldschein with wide guidance

Germany’s Dyckerhoff launched a Eu100m Schuldschein on Wednesday. The four year facility for the cement producer, a Baa2/BBB credit owned by Italy’s Buzzi Unicem, has price guidance of 400bp-450bp, a level that reflects investors’ nervousness about the sector, said bankers.

  • 18 Jun 2009

“It’s a pretty wide spread. A lot of people don’t like the construction industry that much,” said one banker away from the deal. “It’s also a sign that there’s high supply in the Schuldschein market right now.”

Dyckerhoff’s deal is being led by DZ Bank, HVB and LBBW.

The borrower ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 121,275.86 349 11.22%
2 Bank of America Merrill Lynch 94,721.79 272 8.77%
3 JPMorgan 93,458.89 272 8.65%
4 Wells Fargo Securities 83,061.10 241 7.69%
5 Credit Suisse 70,475.74 184 6.52%