Sports Direct swoops in for House of Fraser, but tough game ahead

Sports Direct announced it has bought House of Fraser on Friday, but the retailer had already entered into administration just hours earlier, meaning investors will be unable to trigger what would have been a lucrative change of control covenant in the firm’s bonds.

  • By Victor Jimenez
  • 10 Aug 2018

Sports Direct announced around 10am on Friday morning that it had acquired the business and assets of House of Fraser for £90m in cash. The company already had an 11% stake in House of Fraser.

The move came just hours after House of Fraser published a regulatory ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 13,554.26 61 7.13%
2 Deutsche Bank 11,901.17 45 6.26%
3 Credit Agricole CIB 11,825.01 52 6.22%
4 Goldman Sachs 10,865.30 45 5.71%
5 UniCredit 10,484.86 60 5.51%

Bookrunners of European HY Bonds

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1 BNP Paribas 3,863.89 45 7.26%
2 Goldman Sachs 3,593.75 29 6.75%
3 JPMorgan 3,391.91 36 6.37%
4 Deutsche Bank 3,241.44 30 6.09%
5 Credit Suisse 3,119.95 31 5.86%

Bookrunners of Dollar Denominated HY Bonds

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1 JPMorgan 15,833.26 127 9.86%
2 Citi 11,539.69 98 7.19%
3 Goldman Sachs 11,025.83 85 6.87%
4 Bank of America Merrill Lynch 10,994.65 101 6.85%
5 Barclays 10,908.60 83 6.79%