Drax powers up £550m bond following Opus acquisition

Drax Group, the UK energy holding company, held a roadshow on Wednesday and Thursday for a £500m fixed and floating rate senior secured bond offering, following its acquisition of Opus Energy earlier this year, and further increased it to £550m on Friday.

  • By Max Bower
  • 21 Apr 2017

The fixed rate five year non-call two tranche will be at least £275m. The floating rate notes are five year non-call one.

Price talk was released on Thursday at 4.25%-4.5% on the fixed rate notes and 400bp-425bp over Libor with a 0% Libor floor on the floating rate ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 17,273.45 69 7.07%
2 BNP Paribas 15,748.05 100 6.44%
3 Goldman Sachs 13,736.97 57 5.62%
4 HSBC 12,817.07 84 5.24%
5 Deutsche Bank 12,429.38 73 5.09%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 JPMorgan 5,988.32 51 7.70%
2 Goldman Sachs 5,780.41 47 7.43%
3 Deutsche Bank 5,236.76 54 6.74%
4 Credit Suisse 4,633.16 52 5.96%
5 Barclays 4,263.74 37 5.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 29,820.93 232 10.57%
2 Citi 23,746.29 188 8.42%
3 Bank of America Merrill Lynch 22,954.16 203 8.14%
4 Goldman Sachs 20,887.87 148 7.41%
5 Barclays 19,256.47 129 6.83%