Alcatel taps seven year high yield bond for another $250m

Alcatel Lucent, the US-French telecoms equipment producer, has tapped its 6.75% 2020 bond, issued three weeks ago. The new $250m portion was priced at par, boosting the total bond size to $1bn.

  • By Stefanie Linhardt
  • 26 Nov 2013

Alcatel will use the proceeds of the tap, together with cash on hand, to repay its €298m senior secured term loan facility due 2019.

Citi was the bookrunner on the tap of the B3/CCC+ rated bond. According to CreditSights, the original issue was trading around 100.625.

The

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
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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%