BayernLB places EUR 400m Schuldschein for Sonepar S.A.

4 June 2012

International demand for Schuldscheins on the rise

Munich – BayernLB has just placed a Schuldschein for Sonepar S.A. – the largest such loan ever to have been issued for a French company in terms of volume. In partnership with HSBC Trinkaus, the Bank took Sonepar to the capital market and reaped a EUR 400m Schuldschein note loan for the world's leading electrical distributor. This transaction significantly diversifies Sonepar’s funding sources, lengthen is debt maturity profile and broadens its international investor base in line with its global reach and growth strategy.

"Schuldschein note loans are attractive to companies looking for an alternative means of financing", said Paul Kuhn, head of BayernLB's Debt Capital Markets Department. "German companies have been using this capital market instrument for years. In the meantime issuers in other countries are also showing a greater interest in Schuldscheins and we expect they will be making further transactions on this market."

The tranches have maturities of three, five and seven years. The high investor demand also translated into a highly oversubscribed order book: the original volume of EUR 100m was increased four times over.