Fresenius goes for ESG-linked Schuldschein with step-up only
![Reflection of medical building in water, Fresenius Medical Care AG, Frankfurt, Germany](https://assets.euromoneydigital.com/dims4/default/5fbba58/2147483647/strip/true/crop/5400x3626+0+0/resize/840x564!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F62%2Fbf%2F5f8340c0417db82a36a067232abd%2Fa2n8wx.jpg)
The Schuldschein is increasingly resembling the standards for bonds and opting for lender-friendly features
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