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 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 %
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1 Citi 84,503.31 246 12.96%
2 Bank of America Merrill Lynch 71,587.85 220 10.98%
3 Wells Fargo Securities 65,360.43 206 10.03%
4 JPMorgan 46,548.88 148 7.14%
5 Credit Suisse 37,323.31 115 5.73%