LBBW
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The State of North-Rhine Westphalia increased the size of its century bond through syndication again last Friday, having tapped the bond only three days before. -
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The State of North Rhine Westphalia took centre stage in a quiet euro public sector market this week with a syndicated increase of its century bond.
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Continental launched a Schuldschein on Wednesday and, judging by the arranging banks, market participants believe the German tyres and car parts group has its eye on German co-operative and savings bank investors.
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The oldest private loan market in Germany has bagged the largest private company in India. Reliance Industries, the conglomerate headquartered in Mumbai and founded by Dhirubhai Ambani, has launched a Schuldschein — the first from the country, and what many market participants hope is a sign of things to come.
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The State of North-Rhine Westphalia received a rapturous reception from investors for the syndicated reopening of its century bond on Tuesday, allowing it to print over five times the initial target size.
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The State of North-Rhine Westphalia sold its first century bond on Thursday via the private placement market, and is open to the possibility of bringing a syndicated deal in the tenor.
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Investors have received a note from Helaba saying that a DAX company will market a benchmark Schuldschein (SSD) as early as this week — but only investors signed up to the technology platform VC Trade will be able to bid.
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Technology platforms are vying to become the first to close a fully digital Schuldschein offering — without a paper parallel — under German law. But some see the obstacle to progress not behind the beady eyes of the regulator, or the possibilities of technology, but with market participants’ customs.
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Trumpf, a family-owned mechanical engineering company headquartered near Stuttgart, has launched a triple-tranche Schuldschein.
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Bank Muscat's Islamic banking arm, Meethaq, has requested proposals from banks for its debut loan syndication.
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Germany’s ElringKlinger has signed a €350m loan. The automotive supply company has swapped bilateral lines for syndicated lending as it looks to shore up its capital structure amid widespread upheaval in Europe’s vehicle industry.
