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.

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