Nestlé sells third eurodollar of 2017

In recent months Swiss food group Nestlé has extended its euro corporate bond curve with some of its largest ever deals after it started a Sfr20bn share buy-back in July. But the issuer has not forgotten its eurodollar investors and on Thursday printed its third deal of 2017 in the format.

  • By Nigel Owen
  • 09 Nov 2017

The issuer’s last four eurodollar deals, dating back to July 2016, have had five year tenors and the latest deal was no different. Lead managers Credit SuisseDeutsche BankRBC Capital Markets and TD Securities launched the benchmark deal with initial price thoughts of high 40bp over mid-swaps.

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 164,938.31 718 7.20%
2 Bank of America Merrill Lynch 147,126.56 669 6.42%
3 Citi 129,674.51 690 5.66%
4 Goldman Sachs 105,201.77 447 4.59%
5 Barclays 99,269.52 448 4.33%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 29,154.37 137 8.86%
2 Barclays 24,121.06 98 7.33%
3 Deutsche Bank 22,163.65 93 6.74%
4 SG Corporate & Investment Banking 20,050.48 104 6.10%
5 HSBC 19,151.76 90 5.82%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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  • Today
1 JPMorgan 7,123.00 59 7.43%
2 Goldman Sachs 6,789.41 55 7.08%
3 Deutsche Bank 5,954.72 59 6.21%
4 Credit Suisse 5,809.63 61 6.06%
5 BNP Paribas 5,208.30 57 5.43%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 33,802.85 265 10.75%
2 Citi 26,963.27 215 8.58%
3 Bank of America Merrill Lynch 25,506.35 227 8.11%
4 Goldman Sachs 23,587.99 168 7.50%
5 Barclays 20,408.08 140 6.49%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 26,974.23 134 6.41%
2 Deutsche Bank 26,448.76 95 6.28%
3 Barclays 26,042.03 120 6.19%
4 HSBC 25,650.40 123 6.09%
5 Citi 22,829.99 98 5.42%