Telefónica gets €10bn book for first hybrid in week’s other telco hit

Telefónica, the Spanish telecoms group, joined the march of the national champion industrial companies into the hybrid capital market this week, selling its first such deal on Wednesday to huge demand from European investors.

  • By Jon Hay
  • 13 Sep 2013

The €1.75bn bond was overshadowed by Verizon Communications’ $49bn acquisition financing, priced the same day, in more ways than one.

“I feel a bit sorry for Telefónica,” said a banker away from the deal. “They got a massive book and no one talked about it.”

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 142,092.90 622 7.08%
2 Bank of America Merrill Lynch 126,485.14 579 6.30%
3 Citi 113,573.09 601 5.66%
4 Goldman Sachs 93,780.72 394 4.67%
5 Barclays 89,036.16 395 4.44%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 24,553.43 113 8.90%
2 Barclays 21,105.51 82 7.65%
3 Deutsche Bank 18,530.93 78 6.72%
4 HSBC 16,938.83 77 6.14%
5 SG Corporate & Investment Banking 15,549.67 85 5.64%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 5,988.32 51 7.85%
2 Goldman Sachs 5,669.99 45 7.43%
3 Deutsche Bank 5,047.48 51 6.61%
4 Credit Suisse 4,633.16 52 6.07%
5 Barclays 4,263.74 37 5.59%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 29,820.93 232 10.59%
2 Citi 23,746.29 188 8.43%
3 Bank of America Merrill Lynch 22,954.16 203 8.15%
4 Goldman Sachs 20,887.87 148 7.42%
5 Barclays 19,256.47 129 6.84%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 23,833.79 81 6.52%
2 HSBC 23,751.92 108 6.50%
3 Barclays 23,497.73 103 6.43%
4 BNP Paribas 22,998.19 112 6.29%
5 Citi 20,118.07 85 5.50%