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Corp Bonds

Seat PG’s last offer to SSBs: no coupon, but you can vote

Italian directories company Seat Pagine Gialle released its final proposal for restructuring on Tuesday evening. Senior secured bondholders are now formally included in the negotiations, but the risk to them has deepened: Seat failed to pay their coupon on January 31.

  • 03 Feb 2012

The company said this would be its last proposal and that, should it not obtain the necessary consent threshold by the new deadline of February 28, it was planning to file under the Legge Marzano, Italy’s equivalent of a US Chapter 11 bankruptcy.

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5 Morgan Stanley 41,448.90 204 5.28%

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1 Barclays 14,318.53 43 9.73%
2 BNP Paribas 12,135.98 62 8.25%
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5 SG Corporate & Investment Banking 10,162.70 43 6.90%

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1 Deutsche Bank 4,210.17 31 8.02%
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1 JPMorgan 14,327.84 79 10.51%
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5 Goldman Sachs 10,397.94 64 7.63%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 10,753.24 40 7.90%
2 SG Corporate & Investment Banking 10,122.34 40 7.43%
3 BNP Paribas 9,016.39 50 6.62%
4 Deutsche Bank 7,925.55 31 5.82%
5 HSBC 7,689.49 45 5.65%