Tank & Rast sells 8x levered HY at 6.75%

Tank & Rast, the German motorway services business, sold an 8.1 times levered second lien bond inside guidance on Tuesday. And, in line with the bullish market trend, the notes traded over three cash points higher on Thursday.

  • By Stefanie Linhardt
  • 29 Nov 2013

The €460m of seven year notes with a B issue rating from Standard & Poor's were sold at par with a 6.75% coupon.

Global coordinators Deutsche Bank (billing and delivering), Barclays and RBS and bookrunners Commerzbank, Credit Suisse, ING, Nomura, RBC and UniCredit released initial talk in ...

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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) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 99,251.11 279 13.17%
2 Bank of America Merrill Lynch 90,895.27 265 12.06%
3 Wells Fargo Securities 72,661.39 222 9.64%
4 JPMorgan 52,367.24 169 6.95%
5 Credit Suisse 41,885.89 127 5.56%