Phoenix wins hedge fund backer for £250m cap hike

Phoenix Group Holdings, the closed-life insurance firm, launched a £250m placing and open offer designed to support a re-profiling of its loans and to increase dividend payments. The deal is fully backed by alternative asset manager Och-Ziff at a small discount to the recent share price, instead of being underwritten by a bank syndicate.

  • 30 Jan 2013

Phoenix is selling 50m new shares, 28.75% of the existing share capital, at 500p each. That was a 10.5% discount 30 day volume weight average price and a 15.4% discount to Tuesday’s close of 591p.

Och-Ziff is buying 16m shares, 9.2% of the existing share capital, while an open ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%