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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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 05 Dec 2016
1 Bank of America Merrill Lynch 141,939.63 561 6.18%
2 JPMorgan 134,615.83 565 5.86%
3 Citi 123,531.26 521 5.38%
4 Deutsche Bank 97,614.48 396 4.25%
5 Barclays 96,647.42 388 4.21%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 06 Dec 2016
1 BNP Paribas 26,698.14 135 8.07%
2 Deutsche Bank 23,356.29 86 7.06%
3 Bank of America Merrill Lynch 20,598.24 76 6.23%
4 Citi 20,210.48 88 6.11%
5 Barclays 20,061.92 75 6.06%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 06 Dec 2016
1 Deutsche Bank 7,800.70 49 10.57%
2 Citi 6,458.14 23 8.75%
3 Goldman Sachs 6,266.74 37 8.49%
4 Barclays 5,619.60 34 7.61%
5 JPMorgan 4,221.50 35 5.72%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 06 Dec 2016
1 JPMorgan 25,637.35 204 10.43%
2 Bank of America Merrill Lynch 23,640.29 169 9.62%
3 Goldman Sachs 22,100.52 142 8.99%
4 Citi 20,620.00 153 8.39%
5 Barclays 20,603.68 133 8.38%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 06 Dec 2016
1 BNP Paribas 30,005.45 126 7.06%
2 Barclays 24,642.89 80 5.80%
3 Deutsche Bank 23,876.70 72 5.62%
4 HSBC 23,243.04 98 5.47%
5 Citi 23,231.93 90 5.47%