Retail bid helps Metro €500m pay bargain 2bp-7bp premium

German retailer and wholesaler Metro sold its first benchmark euro bond for two years on Wednesday, and capitalised on its rarity to obtain an exceptionally low new issue premium, by recent standards, of 2bp-7bp.

  • 24 Feb 2012

The €500m no-grow seven year came on the same day as KPN’s €750m 10 year, but although the deal was more modest, the pricing was more spectacular, at least according to the leads.

Rated Baa2/BBB/BBB, with a negative outlook from Moody’s, Metro has issued two small MTNs in euros ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 133,573.25 578 7.23%
2 Bank of America Merrill Lynch 118,541.55 539 6.42%
3 Citi 104,212.37 544 5.64%
4 Goldman Sachs 86,938.14 355 4.71%
5 Barclays 82,724.67 361 4.48%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 22,951.77 105 8.77%
2 Barclays 19,796.44 75 7.56%
3 Deutsche Bank 17,925.12 74 6.85%
4 HSBC 16,031.84 71 6.12%
5 SG Corporate & Investment Banking 14,554.56 78 5.56%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 5,442.63 45 7.89%
2 Goldman Sachs 4,801.82 38 6.96%
3 Deutsche Bank 4,751.46 46 6.89%
4 Credit Suisse 4,353.57 48 6.31%
5 Barclays 4,263.74 37 6.18%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 28,018.08 214 10.98%
2 Citi 21,099.90 168 8.27%
3 Bank of America Merrill Lynch 20,960.58 186 8.22%
4 Goldman Sachs 19,294.20 134 7.56%
5 Barclays 17,943.05 119 7.03%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 22,816.78 75 6.66%
2 HSBC 22,736.18 101 6.64%
3 BNP Paribas 21,794.95 106 6.36%
4 Barclays 21,638.43 92 6.32%
5 Citi 19,224.66 78 5.61%