GE skips US holiday to raise tight €1.25bn

GE Capital chose Presidents’ Day to launch its first fixed rate benchmark bond in euros for nearly a year, and was rewarded for working overtime with €1.25bn at what bankers said was a tight spread.

  • 24 Feb 2012

Although the US holiday was one reason bankers cited for why European issuers stayed out of the market on Monday, GE found plenty of European investors at their desks — enough to amass a book of "well over €4bn", according to one of the leads.

The US industrial and ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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4 Goldman Sachs 94,144.44 398 4.67%
5 Barclays 89,152.07 396 4.42%

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1 BNP Paribas 24,789.49 114 8.93%
2 Barclays 21,105.51 82 7.60%
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4 HSBC 16,938.83 77 6.10%
5 SG Corporate & Investment Banking 15,665.73 86 5.64%

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1 JPMorgan 5,988.32 51 7.80%
2 Goldman Sachs 5,669.99 45 7.38%
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5 Barclays 4,263.74 37 5.55%

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Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 29,820.93 232 10.57%
2 Citi 23,746.29 188 8.42%
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5 Barclays 19,256.47 129 6.83%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Deutsche Bank 23,833.79 81 6.48%
2 HSBC 23,751.92 108 6.46%
3 Barclays 23,497.73 103 6.39%
4 BNP Paribas 23,234.24 113 6.32%
5 Citi 20,118.07 85 5.47%