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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. -
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.
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Telefonica Deutschland has launched a Schuldschein with wider pricing to reflect broader investor appetite, sources claim.
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The theme in the euro public sector market this week was large book sizes despite issuers paying very little concession, with Finland, the European Investment Bank (EIB), Madrid and the Joint Länder all keeping close to their curves.
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Italy passed a test at the long end of the curve with a final order book of over €41bn for a 30 year syndication on Wednesday — far surpassing its previous record book that was set only last month.
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Egger, the Austrian wood-based panel maker, has entered the Schuldschein market for a third time, shaving its pricing margins once again.
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Green bond watchers are putting out their forecasts for issuance this year, hoping for a return to growth after a disappointing 2018. The year has started decently, with at least $6bn issued so far, including this week’s debut issue from Telefónica, hailed as the first from the telecoms sector.
