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 Share % by Volume
1 Societe Generale 16.10
2 Rabobank 15.11
3 Barclays 9.42
4 Credit Agricole 7.93
5 Morgan Stanley 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%