Luxembourg Corp Eyes Derivatives Hedging Strategy

  • 26 Mar 2001
Email a colleague
Request a PDF

DuPont Teijin Films, a joint venture between science and technology giant DuPont and Japanese chemical producer Teijin, is considering using derivatives to hedge foreign exchange and interest-rate risk on its USD500 million loan portfolio. The company, which was formed in January 2000, believes it is now ready to take a more sophisticated approach to managing fx and interest-rate risk.

Peter Bracke, finance superintendent in Luxembourg, said DuPont Teijin Films plans to hire a treasury and tax specialist who will look into hedging the loan book's interest-rate and foreign exchange risk. DuPont Teijin Films has not systematically used derivatives before. Last year the company entered a foreign exchange swap to convert a dollar loan into a synthetic sterling loan because it was using the proceeds in the U.K., but Bracke said this was a one-off transaction. The company has not issued bonds.

Bracke declined comment on which banks it is talking to regarding refinancing loans. The treasury and tax specialist will report to Barry Wootton, European cfo in Luxembourg. Wootton did not return calls.

DuPont Teijin Films has sales of approximately USD1.4 billion and is a supplier of PET (polyethylene naphthalate) and PEN (polyethylene teraphtalate) films.

  • 26 Mar 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
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
  • Today
1 HSBC 25,935.16 104 7.16%
2 Deutsche Bank 25,125.19 81 6.94%
3 Bank of America Merrill Lynch 22,023.57 59 6.08%
4 BNP Paribas 19,315.94 110 5.34%
5 Credit Agricole CIB 18,706.93 106 5.17%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 12,578.87 55 8.17%
2 Citi 11,338.07 71 7.36%
3 UBS 10,682.06 44 6.93%
4 Goldman Sachs 10,419.53 53 6.76%
5 Morgan Stanley 10,194.88 57 6.62%