Helaba (Landesbank Hessen-Thüringen), one of the leading arrangers of Corporate Schuldscheindarlehen and one of the largest paying agents in Germany, completes the digital representation of the Schuldschein market from issuance through execution and lifecycle management to maturity.
In collaboration with vc trade, Helaba has been committed to digitizing the Schuldschein market for years. The vision has always been the complete digital representation of Schuldschein transactions for the benefit of all transaction participants. Consequently, digital distribution and syndication has now been complemented to include digital proof of ownership, as well as the entire administration, including calculations and payment preparation. This encompasses not only new issuances; Helaba has also migrated the entire portfolio of existing Schuldschein transactions for which Helaba acts as a paying agent to the platform and will exclusively manage all transactions through vc trade going forward.
Thomas Groß, CEO of Helaba, sees his institution's path confirmed: "We opted for the digital platform vc trade at an early stage. With the complete digitalisation of Schuldschein issuance, we are now leveraging the benefits for our customers and ourselves. This is another testimonial of our claim to be a driver of digitalisation." The completion of the project also meant that a key milestone in Helaba's IT modernisation was reached on schedule.
Stefan Fromme, Managing Partner of vc trade, adds: "The collaboration between Helaba and vc trade has enabled another quantum leap in the development of the Schuldschein market. With digital proof of ownership and complete digitalisation of paying agent activities, we are establishing a new market standard, serving as a blueprint for other syndicated loanmarkets. After the stock and bond markets, it is now the credit markets taking the step towards standardised, efficient digital processes. We aim to play a central role as a marketplace in this process and will offer solutions for the digital administration of syndicated loans later this year."
In summary, Helaba and vc trade have achieved another milestone in their close cooperation since 2018, significantly contributing to establishing vc trade as the market leader in digital platforms for private placements.