For first time, Helaba arranges EUR 700 million Schuld­schein in line with LMA standard

Together with Commerzbank AG, Helaba has placed a Schuldschein loan with a value of EUR 700 million for Faurecia SA.

  • One of the largest global Schuld­schein issues in 2018
  • Second-largest Schuld­schein issue ever issued by a French corporate
  • Benchmark issue despite volatile debt capital markets
  • First trans­action with standard contract of Loan Market Association (LMA)
  • Settlement over digital platform vc trade

Together with Commerz­bank AG, Helaba has placed a Schuld­schein loan with a value of EUR 700 million for Faurecia SA. This makes the debut trans­action by the French company from the auto­motive industry one of the largest global Schuld­schein issues in 2018 and the second-largest ever issued by a French corporate. It sets a benchmark. In addition, the stan­dardised contract template of the Loan Market Association (LMA) was used for the first time for the trans­action settled over the digital platform vc trade. 

Andreas Petrie, Head of Primary Markets at Helaba, reports that “the signs are already pointing to a very successful deal.” The transaction denominated in Euro and US Dollar, which is divided into tranches with different maturity profiles, has already been heavily over­sub­scribed by international investors. Dr. Christopher Gadomski, Helaba inhouse counsel for corporate finance, explains: “The first practical application of the new LMA docu­mentation, in which we played a leading role in estab­lishing last year, has proven to be a resounding success. The docu­mentation process has become consi­derably more efficient. The new LMA-basis of the contract has contributed signi­ficantly to the success of this very internationally-focused issue, in particular thanks to its accep­tance by foreign investors”.

For Susanne Hübers, Senior Relation­ship Manager at Helaba, the mandate for the issue also testifies to Faurecia's confi­dence in Helaba's Schuld­schein capabili­ties. “The trans­action under­scores the fact that our relation­ship has so far been characterised by mutual trust”, emphasises Hübers and adds: “This successful trans­action will contri­bute to a considerably higher visibility for Helaba on the French market and among our customers there”.

Mike Peter Schweitzer
Head of Communications and Press Officer
Ursula-Brita Krück
Deputy Press Officer
To be able to continuously improve our website, we use cookies. If you continue your visit, you agree to the use of cookies. For more information, see  Data protection