Double-B HY issuers cut costs despite spread widening

Two issuers with double-B ratings, Darling Ingredients and Avast, achieved substantial financial cost savings with repricings this week, as pricing for top rated paper still looked attractive despite a recent uptick in spreads.

  • By Victor Jimenez
  • 26 Apr 2018

Two double-B rated deals in the European leveraged finance market this week showed that demand for that rating is strong, even if investors have been showing more appetite for riskier credits recently.

“The window for opportunistic deals in the double-B area isn’t as open as it has been for ...

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.

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Swedbank 160.81 1 10.77%
1 Sumitomo Mitsui Financial Group 160.81 1 10.77%
1 SEB 160.81 1 10.77%
1 Nordea 160.81 1 10.77%
1 Natixis 160.81 1 10.77%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 200.50 2 12.59%
1 Deutsche Bank 200.50 2 12.59%
3 UniCredit 113.00 1 7.09%
3 Sumitomo Mitsui Financial Group 113.00 1 7.09%
3 Mediobanca 113.00 1 7.09%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 544.58 5 11.06%
2 JPMorgan 482.08 5 9.79%
3 Wells Fargo Securities 374.58 3 7.61%
3 Goldman Sachs 374.58 3 7.61%
5 SunTrust Robinson Humphrey Inc 366.66 4 7.45%