Fiat HY bonds appeal in flourishing Euro market

Fallen angel Fiat Finance & Trade issued a Eu1.25bn five year bond today, as investors clamoured for paper in the reopened corporate bond market after a quiet August. The central treasury vehicle of the Italian car firm (Ba1/BB+/BB+) priced the deal to yield 7.75% as demand outstripped expectations.

  • 08 Sep 2009

BNP Paribas, Royal Bank of Scotland and Société Générale built a book of nearly Eu8bn from around 500 accounts after they had released yield guidance of 7.75% to 8%. The level of oversubscription allowed them to price at the tight end of this range.

“This seems to have been ...

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.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 16.10
2 Rabobank 15.11
3 Barclays 9.42
4 Credit Agricole 7.93
5 Morgan Stanley 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%