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 our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%