Empark’s 10x covered deal shows HY open

Empark, the Spanish car parks operator, attracted a strongly oversubscribed book for its €385m bond debut.

  • By Stefanie Linhardt
  • 13 Dec 2013

The €235m fixed rate tranche was 10 times covered and traded up on Thursday — an overwhelming indication that the high yield primary market is still open despite the nearing Christmas holidays.

Besides the six year fixed rate tranche, the senior secured deal includes a €150m floating rate tranche ...

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1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

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3 Wells Fargo Securities 70,282.48 216 9.45%
4 JPMorgan 51,967.93 167 6.99%
5 Credit Suisse 41,545.25 126 5.59%