Flexible Schuldschein market

In the first half of the year, just under EUR 10bn was issued as corporate Schuldscheindarlehen in around 65 transactions. This corresponds to a decline of around 30% and is mainly due to the increased relative attractiveness of the corporate bond market. At the same time, it demonstrates the flexibility of the Schuldschein market. Austrian issuers only accounted for 9% of the total volume, two Czech companies placed bonds from the CEE region and Switzerland came second in the country ranking behind Germany for the first time. For 2024 as a whole, we expect issue volume of EUR 20bn, but certainly below the previous year's level.