
Schuldschein steams into Asian market with Tianjin Rail’s €200m issuance
The schuldschein has hit Asian shores, with Tianjin Rail becoming the first Chinese entity to tap the instrument, raising €200m for a 10-year term. A source close to the deal spoke to CT about why the German import is appealing to borrowers in Asia.

Tianjin Rail sealed its maiden schuldschein issuance last month. The schuldschein is structurally a hybrid between a loan and a bond and offers a number of advantages to potential issuers, explained a source close to the transaction.
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