Petroplus bonds and CB go bust as defaults rise

Petroplus, the Swiss oil refiner, has become the first European company to default on bonds this year. The company, based in Zug, said today that it had failed to reach agreement with lenders under its revolving credit facility, and that the lenders had in turn served notices of acceleration, initiated enforcement actions and “appointed a receiver in respect of Petroplus Marketing AG’s assets in the UK”.

  • 24 Jan 2012
This constitutes an event of default under the terms of its $1.6bn of senior high yield bonds and $150m of convertible notes, Petroplus said in the statement. The company is preparing to file for insolvency or composition proceedings in Switzerland, a so-called “Nachlassstundung”. Subsidiaries in other countries will ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access:

Corporate access

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

New! GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,171 21 10.72
2 Bank of America Merrill Lynch (BAML) 6,901 20 10.32
3 JP Morgan 4,776 10 7.14
4 Credit Suisse 4,718 9 7.05
5 Lloyds Bank 4,420 14 6.61

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Oct 2016
1 Wells Fargo Securities 68,611.22 170 11.38%
2 Bank of America Merrill Lynch 59,056.08 169 9.80%
3 JPMorgan 56,861.85 163 9.43%
4 Citi 56,521.05 165 9.38%
5 Credit Suisse 44,888.95 123 7.45%