Schuldschein players pray Aryzta is not ‘round three’ for market

Frozen bakery supplier Aryzta’s shares fell by as much as 30% on Thursday as it issued a profit warning that full year Ebitda was expected to be 9%-12% lower than guidance released in January. This is a cause for concern for Schuldschein lenders endeavouring to rid the market of the stench left by Carillion and Steinhoff.

  • By Silas Brown
  • 24 May 2018

In December 2016 Aryzta issued €368m-equivalent of fixed and floating rate euro and dollar Schuldschein notes ranging between three and seven years, with an average interest of 1.65%. BNP Paribas, Helaba, HSBC and Mizuho were lead managers.

"The credit has been in difficulty for some time, ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 118,374.89 527 6.00%
2 Bank of America Merrill Lynch 116,579.22 501 5.91%
3 Citi 95,226.12 501 4.83%
4 Goldman Sachs 80,416.88 312 4.08%
5 Barclays 79,480.05 326 4.03%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 25,490.13 116 8.72%
2 Deutsche Bank 20,970.97 79 7.17%
3 SG Corporate & Investment Banking 19,456.63 93 6.66%
4 HSBC 16,015.57 89 5.48%
5 UniCredit 15,628.90 72 5.35%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Goldman Sachs 5,260.19 41 7.67%
2 BNP Paribas 4,918.81 57 7.17%
3 Deutsche Bank 4,345.09 43 6.34%
4 JPMorgan 3,806.54 43 5.55%
5 Credit Suisse 3,757.05 40 5.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 20,123.74 153 10.30%
2 Goldman Sachs 15,830.49 107 8.10%
3 Credit Suisse 13,243.20 94 6.78%
4 Bank of America Merrill Lynch 13,201.57 121 6.75%
5 Citi 12,928.46 108 6.61%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 28,041.31 115 6.16%
2 BNP Paribas 26,572.93 113 5.84%
3 Barclays 25,736.30 90 5.65%
4 JPMorgan 25,259.22 83 5.55%
5 Citi 24,204.97 95 5.32%