German Debt Finds New Local Borrowers After Loss of Foreign Ones
- Hugo Boss, CompuGroup among year’s debut Schuldschein issuers
- Lenders cautious on international firms after Orpea saga
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The once-booming German Schuldschein market is gaining some new high-profile borrowers from its home base amid a decline in international issuers.
Fashion house Hugo Boss AG last week tapped the German debt for the first time with an initial marketed volume of €100 million ($107 million), according to people familiar with the matter. At the end of August, CompuGroup Medical SE also made its debut with an initial size of €200 million, following a slew of first-time borrowers such as Melitta Group Management and Molkerei Alois Mueller. CompuGroup intends to refinance an existing syndicated loan with the new Schuldschein, said Chief Executive Officer Michael Rauch.