Defensive BSH offers dim sum buyers haven

German household appliance company BSH Bosch und Siemens Hausgeräte raised Rmb2bn ($312.8m) in the offshore renminbi market this week, overcoming the tricky conditions in international funding markets by offering investors a defensive credit — and getting enough demand to add a seven year tranche during execution.

  • 22 Sep 2011
The company had initially planned to sell only three and five year deals. But when funding officials from the company met investors last week, they were asked by some insurance companies to add a longer dated tranche to the deal.It was the first time the company — rated ...

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All Corporate Bonds

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4 HSBC 16,031.84 71 6.12%
5 SG Corporate & Investment Banking 14,554.56 78 5.56%

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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 %
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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%