Sustainable and digital: LBBW and DEBTVISION accompany Dürr AG’s innovative Schuldschein
Dürr AG has issued a new type of sustainable Schuldschein, which was also marketed via a digital platform: Today, the mechanical and plant engineering company announced the signing of a Schuldschein with a volume of over EUR 200 million and maturities between five and ten years, arranged by LBBW and ING. Due to high demand, the loan volume was fully allocated to sustainability tranches, where the interest rate is linked to the Dürr Group’s sustainability rating. The Schuldschein was also marketed via DEBTVISION, the digital financing platform of LBBW and the Börse Stuttgart.
As the market leader for Schuldschein transactions for many years, LBBW has already supported green Schuldschein deals for MANN + HUMMEL and VW Immobilien in the past, where the use of funds is tied to suitable green projects. The Dürr Schuldschein is based on a different approach. Here the interest rate over the term of the Schuldschein is linked to the sustainability rating of the EcoVadis agency. Ecological criteria such as carbon dioxide emissions or water consumption, as well as aspects such as fair working conditions, are taken into account in the evaluation of this rating. The mechanism of this Schuldschein thus resembles the positive incentive loan that LBBW concluded with the technology group Voith in January of this year. Dürr AG is the first borrower worldwide to apply this principle to a Schuldschein.
Carlo Crosetto, Chief Financial Officer of Dürr AG: „Our Schuldschein combines attractive conditions with an innovative, sustainability-oriented concept. We have taken advantage of the favourable interest rate environment and secured our corporate financing on a long-term basis. We are convinced that sustainable action ensures the long-term economic success of the company.“
Christoph Zender, Head of Corporate Finance Origination at LBBW: „Digitization and sustainability are among LBBW’s strategic directions. By arranging this sustainable Schuldschein for Dürr and marketing it via our DEBTVISION digital platform, we are underpinning our claim to be at the forefront of these topics for our customers.“
Christoph Steinbrich, Managing Director DEBTVISION: „With this first sustainable Schuldschein, we have further increased the variety of products on our platform and taken a further step towards our goal of a digital marketplace. The order book, which has been oversubscribed several times, speaks for the open-mindedness of our more than 220 investors, the high quality of Dürr AG and, last but not least, the distribution strength of our platform.“