Vier Gas €1.5bn debut is solid on rough day

Vier Gas Transport, owner of Germany’s largest gas transmission network, Open Grid Europe, made its bond market debut on Monday amid blustery conditions, as European stocks opened 1.4% down, echoing a similar fall in the US on Friday.

  • 07 Jun 2013
Bankers may debate whether the market environment cost the borrower a few basis points, but Vier Gas still made its entry in convincing style, selling €750m of seven year and €750m of 12 year bonds — the upper end of the €500m-€750m size ranges that were communicated last ...

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All Corporate Bonds

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5 Barclays 90,564.22 401 4.43%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 BNP Paribas 25,205.70 116 8.84%
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4 HSBC 17,745.90 80 6.23%
5 SG Corporate & Investment Banking 16,081.95 88 5.64%

Bookrunners of European HY Bonds

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1 JPMorgan 5,988.32 51 7.60%
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5 Citi 4,412.98 34 5.60%

Bookrunners of Dollar Denominated HY Bonds

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1 JPMorgan 30,278.08 235 10.60%
2 Citi 24,061.64 191 8.42%
3 Bank of America Merrill Lynch 23,183.88 205 8.11%
4 Goldman Sachs 21,207.87 149 7.42%
5 Barclays 19,256.47 129 6.74%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 56,596.43 205 6.89%
2 BNP Paribas 54,616.02 178 6.65%
3 Barclays 54,353.83 178 6.61%
4 Citi 49,249.02 159 5.99%
5 SG Corporate & Investment Banking 46,424.44 160 5.65%