Hertz gets its €425m high yield deal, trades up on break

Hertz, the US car rental firm, has priced its €425m 2018 bond at 4.375%. The deal traded up from par to 100/100.25 on Thursday, despite some choppiness in the market on Wednesday.

  • By Stefanie Linhardt
  • 14 Nov 2013

“I would have loved to price it slightly better, but we had been thinking about it in that context throughout,” said a banker close to the deal.

Barclays was billing and delivering on the bond, with Crédit Agricole, Deutsche Bank, JP Morgan, Natixis and Wells Fargo also bookrunning.

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GlobalCapital European securitization league table

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

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%