Plans emerge for Kabel Deutschland, Fresenius bridges-to-bonds

Details about more than €2.5bn of bridge-to-bond transactions for Kabel Deutschland and Fresenius have emerged today.

  • 21 May 2012

German cable company Kabel Deutschland agreed €600m of short term debt to fund its acquisition of Berlin-based Tele Columbus for €603m plus accrued interest. Deutsche Bank, Goldman Sachs and Morgan Stanley provided the financing.

Ba2/BB-/BB rated Kabel Deutschland reported about €1.6bn of revenues for the full year 2010, ended ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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4 Goldman Sachs 85,307.58 349 4.74%
5 Barclays 80,468.49 350 4.47%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 BNP Paribas 22,082.43 98 8.71%
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4 HSBC 15,446.24 67 6.09%
5 SG Corporate & Investment Banking 14,434.81 77 5.69%

Bookrunners of European HY Bonds

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1 JPMorgan 5,335.13 43 7.91%
2 Goldman Sachs 4,721.48 37 7.00%
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4 Credit Suisse 4,353.57 48 6.46%
5 Barclays 4,075.90 34 6.05%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 26,963.24 210 10.82%
2 Citi 20,901.57 165 8.39%
3 Bank of America Merrill Lynch 20,737.25 183 8.32%
4 Goldman Sachs 18,279.20 131 7.34%
5 Morgan Stanley 17,353.91 102 6.97%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Barclays 26,454.29 102 6.87%
2 HSBC 25,726.70 116 6.68%
3 Deutsche Bank 25,363.90 91 6.59%
4 Citi 23,533.28 107 6.11%
5 JPMorgan 22,896.76 127 5.95%