LBBW
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Daimler and Landesbank Baden-Württemberg launched on Wednesday the first Schuldschein issue to be sold using blockchain technology. -
Swiss life sciences firm Lonza launched a €300m debut Schuldschein on Monday, offering dollar and euro tranches to attract, among others, Singaporean, Malaysian and other Asian lenders looking to lend dollars.
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Daimler and Landesbank Baden-Württemberg have launched on Wednesday the first Schuldschein issue to be sold using blockchain technology.
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Lonza launched a €300m Schuldschein on Monday. The Swiss medical firm’s debut Schuldschein comes denominated in dollars and euros in a bid to, among other things, attract southeast Asian lenders, with natural dollar lending needs.
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Speaking at Euromoney’s Global Borrowers conference on Tuesday, a panel of bank issuers said that investors had come to grips with the transformation of the senior asset class for the minimum requirement for own funds and eligible liabilities (MREL). The future of subordinated debt, meanwhile, remains in flux.
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Roughly 40 transactions — if expectations are correct — will close this Schuldschein quarter, exceeding the record 35-37 deals priced in last year’s final quarter. But three Schuldschein bankers believe that if the market becomes even busier investors will be forced to decide between issuers, when, given more time, they would lend to more.
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A trio of euro borrowers launched trades and a fourth picked banks on Tuesday in a market buoyed by a perceived renewal of European political unity following welcome results in elections in France and Italy at the weekend.
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Landesbank Baden-Württemberg (LBBW) made a rare entry into the senior unsecured market on Tuesday, picking up €1bn of new five year funding on the back of strong levels of domestic support.
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Sparebanken Sør Boligkreditt and Société Générale enjoyed solid receptions for their covered bonds this week, with the Norwegian issuer pricing flat to its curve.
