Schuldschein Debt Sales to Recover Next Year as Maturities Loom
- Firms line up to refinance M&A-related loans via Schuldschein
- Lenders remain selective, cautious on real estate, auto firms
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The Schuldschein market may be headed for a recovery in 2024, fueled by companies seeking to refinance a wall of maturing debt and get loans for acquisitions.
Eight of the 12 top arrangers surveyed by Bloomberg News expect next year’s sales to top this year’s issuance of about €20 billion ($22 billion) by at least 10%. That’s because 2024 is expected to see the refinancing of five-year debt issued in 2019, which was the second-biggest year on record with €29 billion of sales.