CPI Property repays Schuldschein early

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By Silas Brown
22 Feb 2021

Listed real estate firm CPI Property is paying back a portion of its Schuldschein early at par, taking advantage of favourable legal conditions in Germany regarding early prepayment for floating rate loans. Sources say other companies may use this option if funding conditions remain so attractive in public markets.

CPI Property issued its first Schuldschein two years ago. There were a few notable elements of the trade. Beyond the fact a property owner with much of its assets in central and eastern Europe was the borrower, a further oddity was its heavy use of floating rate notes.

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