· Landmark transaction combines established private debt financing with blockchain-based infrastructure, helping bring new efficiencies to financing for Germany's Mittelstand.
UniCredit has successfully arranged a three-year tokenised mini-Schuldschein for OSMAB Holding AG, a German real estate investment, development and asset management company focused on commercial properties, mainly office and logistics assets.
The transaction marks the first Schuldschein arranged by UniCredit to incorporate blockchain technology and tokenisation for the documentation, secure storage and verification of transaction documents. UniCredit acted as sole arranger on the transaction, which represents OSMAB's second Schuldschein financing with the bank.
Maturing in September 2029, the financing supports OSMAB's general corporate funding needs while demonstrating how innovative digital infrastructure can be applied to established financing instruments widely used by Germany's Mittelstand.
By digitising and tokenising transaction documentation, the process can help enhance transparency, security and operational efficiency from issuance through to maturity. The technology provides a secure and auditable record of transaction documents, supporting streamlined administration, reducing reliance on manual processes and improving reliability for all participants. Combined with a digital platform that brings issuers, arrangers and investors together in a shared workflow, these capabilities can help streamline coordination and post-deal administration, creating a more efficient financing process for all participants.
As it scales, this solution has the potential to make Schuldschein transactions economically viable for a wider range of companies, facilitating access to more investors and contributing to an overall more liquid market.
"Supporting Germany's Mittelstand has been at the heart of our business for decades. Our ambition is to make sophisticated financing instruments easier and more efficient for these companies to access by simplifying processes and broadening participation across the market. By digitalising and tokenising the Schuldschein, we aim to make it easier for Mittelstand and SME companies to tap the benefits of syndication as an alternative to bilateral loans, while improving overall market liquidity by connecting a wider range of issuers and investors more efficiently. This transaction is an important milestone on that journey," said Sam Kendall, Head of Client Solutions Germany and Head of Advisory & Financing Solutions, UniCredit
"OSMAB Holding AG has consistently demonstrated an openness to innovative technologies and diversification opportunities in its financing activities. We remain committed to further developing and expanding our initiatives in this area in the future," said Ingo Süßmilch, CFO, OSMAB Holding AG.
The transaction was carried out with the support of two partners in which UniCredit holds strategic equity stakes - VC Trade, whose platform facilitated the financing, digital settlement, and end-to-end lifecycle management, and BlockInvest, whose technology provided the digital infrastructure for the tokenisation and secure management of the transaction documentation.
Together, these capabilities support a more efficient and scalable approach to delivering sophisticated financing solutions to the Mittelstand and SME clients across Europe, helping broaden access to capital markets and investment banking products that have traditionally been more accessible to larger issuers.
The transaction also builds on UniCredit's growing track record in tokenised financial instruments, following landmark transactions including Italy's first tokenised mini-bond and tokenised certificates. The bank is committed to translating its investments in digital infrastructure into tangible client solutions, while continuing to support innovation and growth across its core European markets.