German Private Placement 2023 (Schuldscheindarlehen)
In 2023, CLAAS successfully placed another SSD transaction with a volume of EUR 350m. The transaction was placed with 3.25y, 5.25y and 7.25y tranches and with fixed and floating rate coupons.
On the back of a very strong orderbook, the company decided to significantly upsize the deal to EUR 350m while being able to set credit spreads of all tranches at the tight end of the marketing ranges. Final orderbooks were several times oversubscribed.
The transaction attracted high quality domestic and international investor base with ticket sizes ranging from EUR 1m up to EUR 50m with around 100 investors being allocated. Using once again the SSD format to raise new capital, CLAAS profited from access to a broad mix of new investors with international commercial banks supplemented by saving and cooperative banks.
