Bormioli pays 10% to redeem €250m bridge

Three new issues and one tap — that is as much as a European high yield market perturbed by doom-laden headlines was able to price in July, a month bankers had expected to be packed with new issues.

  • 28 Jul 2011

Bormioli Rocco, an Italian glass and plastic packaging maker, was the only company that managed to sell a high yield bond in the last week before August. It paid 10% to liberate JP Morgan from the bridge finance it had provided to back the company’s acquisition.

Bormioli’s €250m seven ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 6,606.50 25 7.67%
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3 Bank of America Merrill Lynch 4,899.82 22 5.69%
4 Barclays 4,571.59 20 5.31%
5 Mizuho 4,473.33 18 5.19%

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5 SG Corporate & Investment Banking 943.52 7 5.71%

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Rank Lead Manager Amount €m No of issues Share %
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1 NatWest Markets 216.56 3 8.11%
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5 UniCredit 155.26 2 5.81%

Bookrunners of Dollar Denominated HY Bonds

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Bookrunners of European Corporate IG Bonds

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  • Today
1 Citi 2,087.29 10 8.43%
2 Mizuho 1,656.00 6 6.69%
3 BNP Paribas 1,583.41 10 6.40%
4 JPMorgan 1,130.71 4 4.57%
5 Commerzbank Group 1,090.75 4 4.41%