Michelin turns to bank debt to refinance bond

Michelin secured a Eu480m bridge loan to refinance a maturing bond, the tyre company revealed on Friday. The Baa2/BBB/BBB rated firm will use the facility to repay a Eu470m bond due in April and to meet its other short-term commitments.

  • 16 Feb 2009
Calyon, Royal Bank of Scotland and Société Générale provided the deal, which matures on December 31 this year. Michelin announced the deal with its full-year results on Friday.The company is just one of many looking to refinance maturing bonds in the loan market. Bankers reported a sharp rise ...

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) 3,136 9 13.58
2 Citi 2,562 6 11.09
3 Goldman Sachs 2,150 3 9.31
4 Credit Suisse 1,822 6 7.89
5 Societe Generale 1,814 4 7.86

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%