CMA CGM sells €300m triple-C bond for GCP, refi

CMA CGM, the French container shipping business, sold its €300m unsecured bond on Tuesday. The 2018 deal came with an 8.75% coupon at 97.552 to yield 9.375%.

  • By Stefanie Linhardt
  • 13 Dec 2013

BNP Paribas was billing and delivering and joint bookrunner with Credit Suisse and Société Générale.

The notes were trading "a touch below reoffer" on Wednesday, according to a banker close to the deal.

CMA CGM will use $285m of the $405.2m equivalent of proceeds for general corporate purposes. ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

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1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
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5 Credit Suisse 23,990.96 75 5.20%