Enel bulks up on size, hits record Yankee level

Enel decided to stress size rather than pricing in its $4.5bn 5s/10s/30s trade this week, the third leg of its Eu10bn Endesa refinancing.

  • 02 Oct 2009

"The borrower chose growth over level," said a senior syndicate source in New York close to the deal. The deal was structured for depth of sponsorship, and this was the right decision for the book."

Other bankers in New York connected to the trade were more forthright. They suggested ...

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All Corporate Bonds

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5 Credit Suisse 5,391.91 30 4.59%

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5 SG Corporate & Investment Banking 943.52 7 5.71%

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2 Jefferies LLC 2,201.25 3 10.54%
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4 JPMorgan 1,685.73 12 8.07%
5 Bank of America Merrill Lynch 1,483.26 13 7.10%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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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%