RCI Banque’s diversity pays off as euro return flies

RCI Banque, the finance arm of Renault, raised €500m on Tuesday with a strongly sold bond that was priced with a minimal new issue premium. One banker away from the deal hailed it as "no more than 2bp — the lowest concession they’ve paid for years".

  • 31 May 2013

A regular issuer, RCI is rated Baa3/BBB after downgrades of its parent Renault during the economic downturn.

The finance arm began its 2013 issuing campaign early, but tentatively, on January 3 with a €100m 4.3 year issue priced at 173bp over mid-swaps, drawing solid demand of €520m from 60 ...

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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 7.05%
2 Bank of America Merrill Lynch 126,563.58 580 6.28%
3 Citi 113,864.83 602 5.65%
4 Goldman Sachs 94,144.44 398 4.67%
5 Barclays 89,152.07 396 4.42%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 24,789.49 114 8.88%
2 Barclays 21,221.42 83 7.60%
3 Deutsche Bank 18,530.93 78 6.64%
4 HSBC 16,938.83 77 6.07%
5 SG Corporate & Investment Banking 15,665.73 86 5.61%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 5,988.32 51 7.70%
2 Goldman Sachs 5,780.41 47 7.43%
3 Deutsche Bank 5,236.76 54 6.74%
4 Credit Suisse 4,633.16 52 5.96%
5 Barclays 4,263.74 37 5.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 29,820.93 232 10.57%
2 Citi 23,746.29 188 8.42%
3 Bank of America Merrill Lynch 22,954.16 203 8.14%
4 Goldman Sachs 20,887.87 148 7.41%
5 Barclays 19,256.47 129 6.83%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 24,182.92 82 6.45%
2 HSBC 23,902.07 109 6.38%
3 Barclays 23,817.08 108 6.35%
4 BNP Paribas 23,234.24 113 6.20%
5 Citi 20,797.03 89 5.55%