“The mid-tier bond lives again,” was a recent headline in the FAZ newspaper. At €600 million, almost three times as much volume was placed in 2017 compared to 2016. On the other hand, many bonds were redeemed, about which, of course, nothing was to be read in the newspapers. The fact is: bonds are being prepared more thoroughly by issuers. Investors receive more collateral or other bonuses. For example, dividend bans have been agreed for Euroboden and Photon, real estate bonds will benefit from land charges and additional bonuses will be agreed. Investors are regaining confidence in lower interest coupons. Nevertheless, every investor should work intensively with the companies to whom they make their money available.
This year, JCC AG has successfully placed a bond for Data Trust, a data center in California. A second bond of 50 million euros is currently in preparation and will be launched on 1.11.2017 as a private placement.