Statnett to debut in euros as RWE announces buy-back results

On Monday, Statnett, the Norwegian state electricity grid company, mandated banks for its debut benchmark bond issue in euros. This followed German power utility RWE announcing the results of its recent tender offer on Friday.

  • By Nigel Owen
  • 09 Oct 2017

Statnett, rated A2/A+, has hired Barclays, Crédit Agricole, Danske Bank, NatWest Markets and Nordea for a European roadshow from October 12. It will then issue a benchmark 10 to 12.5 year bond.

The issuer has €1.76bn-equivalent of bonds outstanding, according to Dealogic. The large majority ...

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1 Morgan Stanley 6,571.35 36 6.34%
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4 HSBC 5,212.98 36 5.03%
5 BNP Paribas 4,994.98 27 4.82%

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5 ING 1,477.05 5 6.13%

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4 Bank of America Merrill Lynch 1,559.21 15 6.65%
5 Deutsche Bank 1,550.60 9 6.61%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 2,459.18 9 9.61%
2 UniCredit 1,892.23 6 7.39%
3 Bank of America Merrill Lynch 1,585.30 5 6.20%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.16%
5 ING 1,477.05 5 5.77%