Xella seeks financial flexibility with Eu300m bond

Xella International, the German building materials, dry lining and lime producer, is offering a Eu300m senior secured bond to refinance debt. The 2018 notes, callable after three years, have a provisional Ba3/B+ rating – in line with Xella’s corporate credit ratings.

  • 23 May 2011

The company, based in Duisburg, resulted from the merger in 2002 of Haniel-Bau Industrie, Ytong and Fels-Werke. It was bought out by PAI Partners and Goldman Sachs Capital Partners in 2008, and is still owned by them.

The company is meeting investors in London, Paris and Frankfurt from Monday ...

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1 JPMorgan 39,814.04 178 7.25%
2 Citi 35,583.54 163 6.48%
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4 Deutsche Bank 32,622.38 127 5.94%
5 Barclays 28,217.98 111 5.14%

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  • 21 Mar 2017
1 BNP Paribas 7,741.23 34 9.96%
2 Deutsche Bank 6,409.32 21 8.25%
3 Barclays 5,176.15 25 6.66%
4 HSBC 5,003.70 23 6.44%
5 Citi 4,576.17 26 5.89%

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  • 21 Mar 2017
1 Citi 2,417.98 11 10.88%
2 Deutsche Bank 2,229.13 17 10.03%
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4 JPMorgan 1,733.98 11 7.80%
5 Barclays 1,569.70 11 7.06%

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Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 11,150.67 77 12.59%
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4 Goldman Sachs 6,155.05 45 6.95%
5 Credit Suisse 5,502.63 40 6.21%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • 14 Mar 2017
1 BNP Paribas 8,202.93 31 9.23%
2 Deutsche Bank 6,868.10 19 7.73%
3 Citi 6,086.67 25 6.85%
4 JPMorgan 4,814.18 17 5.42%
5 HSBC 4,304.73 21 4.84%