Fugro uses subordinated CB to repay US PP

Fugro, the Dutch geosciences company, turned to the convertible market on Wednesday to meet a specific corporate finance need, much as Rallye did in a different situation on the same day.

  • By Jon Hay
  • 19 Oct 2016

Fugro’s €150m five year deal, increased to €190m, appeared to attract more buzz from investors. It is subordinated, which some accounts do not like, but unlike Rallye’s was not equity-neutral.

HSBC led the deal, with ABN Amro as a co-manager.

“Fugro looked interesting,” an investor said. “The ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 10,650.87 23 11.13%
2 Deutsche Bank 8,169.49 17 8.53%
3 HSBC 6,243.46 23 6.52%
4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

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4 Citi 3,393.89 23 6.70%
5 Goldman Sachs 3,360.93 18 6.63%