July 2013

Prof. Dr. Olaf Schlotmann co-autor of study regarding mid-market bonds

More shadows than light: The new market for mid-cap bonds. March 2010 saw the start of the new market segment for so-called mid-cap bonds – bond issues volumes lower than usual until that date and issued by companies previously rather not expected to enter capital markets. Three years of operation have given the chance for a first assessment of an instrument that has drawn a lot of attention despite its limited relevance for corporate financing. The analysis shows that primarily (financial) service providers as well as issuers benefit from the new market segment while investors fare poorly.

Study regarding mid-market bonds (German)