Glencore proves arb is not dead with $125m equity-neutral tap

Glencore, the Swiss mining and commodities company, has returned to the equity-linked market with a $125m tap of its non-dilutive convertible bonds due in March 2025, placed overnight on Wednesday evening.

  • By Aidan Gregory
  • 20 Sep 2018

Bookrunners BNP Paribas and Citigroup ran the deal as an accelerated sale overnight. They won the trade following an auction run by Glencore earlier on Wednesday for the convertible bond and call hedge.

“It started by an auction that they ran throughout the course of ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 346,069.71 1350 8.09%
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5 Goldman Sachs 227,890.51 774 5.33%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 48,411.81 205 6.53%
2 JPMorgan 46,311.15 105 6.25%
3 UniCredit 40,595.43 182 5.48%
4 SG Corporate & Investment Banking 38,348.83 146 5.17%
5 Credit Agricole CIB 38,097.35 189 5.14%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 14,514.87 63 9.19%
2 Goldman Sachs 13,469.15 66 8.53%
3 Citi 9,971.36 58 6.32%
4 Morgan Stanley 8,572.10 54 5.43%
5 UBS 8,414.70 37 5.33%