IGTA Journal - Summer 2018

. Average ticket: 180 million euros. . French companies: Agrial, Neopost, Plastic Omnium, Seb, Sonepar, Tarkett, Vilmorin... . In January 2015, German automotive supplier ZF Friedrihshafen raised EUR 2.2 billion in six tranches of three, five and seven years from 200 investors, 22% of which were Asian banks and 22% of non-German European banks , to finance an acquisition. This is the largest Schuldschein ever issued and probably one of the largest private placements for a private company. Euro PP (Euro Private Placement) . The Euro PP was launched in 2013, with two formats: loan and bond (listed or unlisted): www.euro-privateplacement.com . The contract is halfway between the syndicated loan and the documentation of bond issued by listed companies in the investment grade category. Collateral is most often shared between bank and bond lenders. The system is flexible and allows tailor-made solutions to meet investors' expectations for companies of modest size that do not issue securities on regulated markets. . From twenty to thirty investors. . The format (loan or bond, quoted or unlisted) is indifferent to investors. . Share of foreign companies: more than 40% in 2017 . 80% of issuers realize less than 1 billion euros turnover. . Most common maturities: 6-7 years . Average ticket: 50 million euros . French issuers: Agrial, Atos, Altrad, Bel, Compagnie des Alpes, Eramet, Kaufman and Broad, Lactalis, Nexity, Orpea, Safran... Responsible for English translation AFTE, the French IGTA Member Association. Translator: Richard Cordero IGTA eJournal | Summer 2018 | 11