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
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 HSBC 27,039.93 106 7.36%
2 Deutsche Bank 25,125.19 81 6.84%
3 Bank of America Merrill Lynch 23,128.33 61 6.29%
4 BNP Paribas 19,315.94 110 5.26%
5 Credit Agricole CIB 18,706.93 106 5.09%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 JPMorgan 13,488.13 59 8.47%
2 Citi 11,496.21 73 7.22%
3 UBS 11,302.86 45 7.09%
4 Morgan Stanley 10,864.95 59 6.82%
5 Goldman Sachs 10,434.21 54 6.55%