Loyal investors back Phones4u’s punchy PIK

Phones4u, the UK mobile phone retailer, priced its £205m PIK toggle bond on Wednesday, after a swift marketing process that began with a roadshow in London on Monday and Tuesday.

  • By Jon Hay
  • 20 Sep 2013

Physical bookrunner Goldman Sachs, with Lloyds as an additional bookrunner, priced the bond at a yield of 10.25%, the tight end of a 25bp range.

“It went really well, we’re very pleased,” said a banker at one of the leads. “Like a lot of the PIK toggle deals ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

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) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%