Steinhoff makes itself comfortable in euros

Steinhoff Europe, the furniture maker, made its debut in senior euro corporate bond markets on Monday, and was the only issuer to offer investors a transaction on the day. The €800m 7.5 year deal followed a European roadshow last week.

  • By Nigel Owen
  • 17 Jul 2017

The roadshow for the Baa3-rated issuer was well attended, with Steinhoff having informed investors of its intention to issue a benchmark six year to nine year bond. BNP Paribas, Crédit Agricole and HSBC were the global co-ordinators.

Steinhoff Europe is a wholly owned subsidiary of Steinhoff International ...

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5 SG Corporate & Investment Banking 14,434.81 77 5.60%

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5 Morgan Stanley 17,410.41 103 6.94%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Deutsche Bank 22,857.42 74 6.70%
2 HSBC 22,396.75 99 6.56%
3 Barclays 21,691.19 94 6.36%
4 BNP Paribas 21,322.17 102 6.25%
5 Citi 19,362.38 80 5.68%