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2018/07/23 / Erste Group Research

Spezialbericht | Corporate Schuldscheindarlehen 1HY 2018

Der Corporate Schuldscheinmarkt zeigte sich im 1HJ 2018 – im Vergleich zu den Vorjahren – recht verhalten. Es wurden lediglich EUR 9 Mrd. im Zuge von knapp 70 Transaktionen begeben. Der Trend der Vorjahre hinsichtlich (längerer) Laufzeiten und (niedrigerem) Preisniveau setzte sich fort; die Trends Digitalisierung und grüne Schuldscheine verstärkten sich weiter.

Trotz der rückläufigen Entwicklung hinsichtlich Volumina und Transaktionszahlen bleibt der Corporate Schuldscheinmarkt sowohl für Emittenten als auch für Investoren interessant. Mit bereits über 30 angekündigten bzw. teils abgeschlossenen Transaktionen in Gesamthöhe von mehr als EUR 4 Mrd. im 2HJ 2018 gehen wir von einer stärkeren zweiten Jahreshälfte aus. Insgesamt liegt unsere Prognose für das Gesamtjahr 2018 bei EUR 23-25 Mrd. an neuen Unternehmensschuldscheinen.

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General information

AuthorErste Group Research
Product nameMajor Markets Spezial Report
Topic in focusFX, Macro/ Fixed income
Economy in focusAustria, Germany, Switzerland
Currency in focusEuro, Swiss Franc
Sector in focus-


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