Porsche Stuns Private Debt Market With Record €2.7 Billion Sale
- Holding firm raises largest-ever Schuldschein on debut
- More high-grade borrowers are tapping this niche German market
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Porsche Automobil Holding SE has smashed records in the Schuldschein market on its debut, borrowing €2.7 billion ($2.9 billion) in the largest-ever deal for the German debt.
The offering this month, which was initially marketed at only €500 million, pulled in about 120 investors including European, Asian and American banks, pension funds and insurers. It shows enduring demand for anything related to the sports car marquee, after Porsche AG’s stock offering last year was Europe’s biggest in a decade.