The German Schuldscheindarlehen (SSD) is essentially an assignable loan placed with professional investors. It offers borrowers a financing option that combines elements of syndicated loans with improved transferability. SSD are a well-established financing tool that allows borrowers to tailor the terms and conditions of the loan to the specific situation. Typically, one lender is acting as arranger, and transfers portions of the loan to other lenders post-closing.
SSD are a well-established and flexible instrument that enables borrowers to gain easy and inexpensive access to medium to long-term financing from capital markets investors (banks, insurers, pension funds, investment management companies) that cannot always be reached through bank financings.
We, the Schuldschein Working Group at King & Wood Mallesons Frankfurt, are able to guide you through SSD, either as a standalone borrowing or as part of a more complex financing structure for international borrowers and investors who wish to gain access to this unique investment instrument.
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