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Corp Bonds

Cautious KPN borrows early, raising €750m after S&P cut

Koninklijke KPN, the Dutch telecom company, returned to the European bond market on Wednesday, the day after a downgrade by Standard & Poor’s, and seemed to suffer no ill effects, achieving a well oversubscribed deal of €750m, the most it wanted.

  • 24 Feb 2012

The new issue premium of about 15bp-17bp was respectable and tighter than would have been possible a month ago, though not as tight as the 8bp-13bp KPN felt it achieved on its last outing in September, a €500m no-grow 10 year.

One banker away from the deal said ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • 16 Mar 2015
1 JPMorgan 43,740.68 172 9.01%
2 Bank of America Merrill Lynch 35,852.09 137 7.39%
3 Citi 30,813.89 133 6.35%
4 Barclays 30,143.52 118 6.21%
5 Morgan Stanley 26,594.60 120 5.48%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • 24 Mar 2015
1 Barclays 10,971.71 30 5.17%
2 HSBC 9,434.17 33 4.45%
3 BNP Paribas 8,643.27 43 4.07%
4 SG Corporate & Investment Banking 7,802.38 27 3.68%
5 Deutsche Bank 7,276.78 23 3.43%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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  • 24 Mar 2015
1 Credit Suisse 3,090.86 19 9.83%
2 Deutsche Bank 2,784.57 21 8.85%
3 Citi 2,287.41 13 7.27%
4 Morgan Stanley 2,210.31 17 7.03%
5 JPMorgan 2,064.22 20 6.56%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • 24 Mar 2015
1 Citi 7,748.02 51 0.00%
2 JPMorgan 7,655.00 51 0.00%
3 Barclays 7,306.12 42 0.00%
4 Morgan Stanley 6,778.04 43 0.00%
5 Deutsche Bank 6,653.01 37 0.00%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Mar 2015
1 Barclays 7,984.19 27 0.00%
2 SG Corporate & Investment Banking 7,666.11 25 0.00%
3 BNP Paribas 6,657.20 34 0.00%
4 Deutsche Bank 5,318.57 18 0.00%
5 HSBC 4,837.72 24 0.00%