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Corp Bonds

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 ...

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Rank Lead Manager Amount $m No of issues Share %
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  • 04 May 2015
1 JPMorgan 63,191.38 244 8.06%
2 Bank of America Merrill Lynch 56,426.95 231 7.19%
3 Citi 44,325.36 212 5.65%
4 Barclays 41,754.13 183 5.32%
5 Morgan Stanley 41,448.90 204 5.28%

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Rank Lead Manager Amount $m No of issues Share %
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  • 05 May 2015
1 Barclays 14,318.53 43 9.73%
2 BNP Paribas 12,135.98 62 8.25%
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4 Deutsche Bank 11,045.14 39 7.50%
5 SG Corporate & Investment Banking 10,162.70 43 6.90%

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Rank Lead Manager Amount €m No of issues Share %
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  • 05 May 2015
1 Deutsche Bank 4,210.17 31 8.02%
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5 Barclays 3,197.48 21 6.09%

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Rank Lead Manager Amount $m No of issues Share %
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  • 05 May 2015
1 JPMorgan 14,327.84 79 10.51%
2 Bank of America Merrill Lynch 12,068.60 87 8.85%
3 Deutsche Bank 11,104.94 66 8.15%
4 Credit Suisse 10,747.37 69 7.88%
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
  • 05 May 2015
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%