2,5 % S.C.S. Bearer Notes

News

• 17.12.2025
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 13.06.2025
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 15.11.2024
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 13.11.2024
  Creditreform Rating has published the new sub-rating methodology, "Sub-Methodology for Commercial Real Estate Financings and Securitizations." Following the consultation period, this methodology will be implemented. Consequently, all relevant ratings are currently under review as part of ongoing monitoring and have been assigned a "watch" status. The current rating methodologies can be viewed at www.creditreform-rating.de.
• 09.11.2023
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 16.11.2022
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 16.11.2021
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 11.11.2020
  Further details regarding the regulatory requirements according to ESMA (European Securities and Markets Authority) Guidelines 33-9-320 can be found in the document attached below.
• 12.11.2019
  Creditreform Rating confirmed the rating for the bearer bonds with the ISIN XS1704854089 issued by AB Commercial Real Estate Debt German Feeder Fund III, S.C.S. SICAV-RAIF, acting on behalf of its sub-fund I (Issuer), with BBB+ / outlook stable. The Issuer uses the proceeds from the issue primarily to invest in an investment vehicle.
  The investment vehicle invests in secured commercial real estate loans. The main reasons behind CRA´s rating assignment are the initial loss buffer of the Issuer as well as the investment strategy of the investment vehicle. The expected cash flow generation from the investment vehicle´s portfolio has been tested, taking into account several stressed scenarios. Overall, our quantitative analyses show a moderate stress resistance of the transaction structure with regard to individual parameters.
• 25.01.2019
  As a result of its methodology review, Creditreform Rating has removed the additive “watch” for the bearer bonds with the ISIN XS1704854089 issued by AB Commercial Real Estate Debt German Feeder Fund III, S.C.S. SICAV-RAIF, acting on behalf of its sub-fund I, and confirmed the rating with BBB+ / outlook stable. The issuer uses the proceeds from the issue primarily to invest in a target investment fund. The main reasons behind the decision are the initial loss buffer of the issuer as well as the investment strategy of the target investment fund. The expected cash flows generation has been tested, taking into account several stressed scenarios. The bearer bonds benefit not only from an initial loss buffer but also from other risk-reducing structural features. Overall, our quantitative analyses show a moderate stress resistance of the transaction structure with regard to individual parameters.