Carlsberg Soaks Up Rate Risk

  • 08 Jul 2002
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Carlsberg Breweries has entered interest-rate swaps to convert a recent EUR500 million (USD494 million) bond offering into floating-rate debt. Lars Cordi, treasury manager in Copenhagen, Denmark, said the coupon on the bond is 5.625%. Carlsberg then entered a swap to convert the offering to floating-rate debt at a spread over six-month Euribor, said Cordi, declining to give the exact spread.

Cordi said the company, in general, considers floating-rate debt less risky than fixed-rate. He would not disclose the counterparty on the interest-rate swap. But he explained that the company uses a group of relationship banks--which he declined to name--to transact all of its capital markets activity, including interest-rate swaps. Citibank/Schroder Salomon Smith Barney, Deutsche Bank and Nordea were the underwriters on the transaction.

  • 08 Jul 2002

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%