PCCW changes bond strategy, gets big pay-off

Hong Kong telecommunications company PCCW returned to the international bond market this week, selling a $500m 10 year bond — and getting a vastly better response than it managed the last time it came to the market after changing the structure of the deal.

  • 06 Mar 2013
Australia and New Zealand Bank, DBS, HSBC, Morgan Stanley and Standard Chartered were the bookrunners of the latest deal, and approached investors with price guidance of around 220bp. But after getting strong demand they were able to cut that to 200bp-205bp, before pricing the deal at the tight ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 114,167.46 483 7.16%
2 Bank of America Merrill Lynch 103,546.85 453 6.50%
3 Citi 89,161.29 456 5.59%
4 Goldman Sachs 76,022.01 308 4.77%
5 Barclays 72,797.16 313 4.57%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 20,370.84 87 8.99%
2 Barclays 17,722.23 65 7.82%
3 Deutsche Bank 15,688.73 60 6.92%
4 HSBC 13,777.20 59 6.08%
5 SG Corporate & Investment Banking 12,521.92 64 5.53%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,994.70 40 8.04%
2 Goldman Sachs 4,312.69 35 6.95%
3 Deutsche Bank 4,249.17 39 6.84%
4 Barclays 3,956.08 33 6.37%
5 Citi 3,884.06 28 6.26%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 24,067.99 186 10.79%
2 Citi 19,404.77 149 8.70%
3 Bank of America Merrill Lynch 17,997.02 158 8.07%
4 Goldman Sachs 17,038.94 119 7.64%
5 Barclays 15,537.71 103 6.97%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 20,529.33 63 6.90%
2 HSBC 19,637.33 84 6.60%
3 BNP Paribas 19,521.34 89 6.56%
4 Barclays 19,276.49 80 6.48%
5 Citi 17,718.43 69 5.96%