Article in DerTreasurer on the Competition among Promissory Note Platforms


A very interesting development: LBBW, the market leader in Schuldschein, takes the position that banks are not required as intermediaries and should focus on the advisory role. It is understandable that it still seeks to defend its position by utilizing a proprietary platform. We believe a neutral platform, where banks and other deal advisors can offer their services to issuers fairly and transparently, is more efficient.