Beni Stabili sails through choppiness for tidy €350m four year

Beni Stabili, the Italian property company, launched a senior unsecured bond today that was seen as a debut. The unrated company has sold convertibles and securitisations before but to assess relative value, investors looked to other issuers.

  • By Jon Hay
  • 14 Jan 2014

Beni Stabili had roadshowed in November with Crédit Agricole, JP Morgan, Mediobanca and UniCredit, but delayed issuing its bond in the hope of getting better pricing.

“They have issued today probably a quarter percentage point tighter than they could have done then,” said a banker at one of ...

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All Corporate Bonds

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5 Barclays 90,141.66 399 4.44%

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5 SG Corporate & Investment Banking 15,959.24 87 5.66%

Bookrunners of European HY Bonds

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Bookrunners of Dollar Denominated HY Bonds

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4 Goldman Sachs 20,887.87 148 7.36%
5 Barclays 19,256.47 129 6.79%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 99,250.27 279 13.10%
2 Bank of America Merrill Lynch 92,153.61 267 12.16%
3 Wells Fargo Securities 72,661.39 222 9.59%
4 JPMorgan 52,367.24 169 6.91%
5 Credit Suisse 41,885.89 127 5.53%