Cognita breaks HY bond leg for Jacobs’ £2bn LBO

Private school operator Cognita was the first borrower in a week to attempt an issue in the euro high yield market with a sub-benchmark size deal. It sought funding for its acquisition by Jacobs Holding, the Swiss investment and charitable firm, but pulled the bond deal after weak demand.

  • By Victor Jimenez
  • 26 Nov 2018

Lernen Bondco and Lernen Bidco were the Cognita subsidiaries roadshowing in the European leveraged finance markets this week, part of what most bankers and investors describe as a “very thin” pipeline for the last weeks of the year.

In the bond market, Cognita opened three days of ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 3,728.01 21 7.14%
2 Credit Agricole CIB 3,101.01 16 5.94%
3 Goldman Sachs 3,092.70 16 5.92%
4 BNP Paribas 2,926.68 24 5.61%
5 Citi 2,758.74 10 5.29%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,336.07 15 8.07%
2 JPMorgan 2,260.62 16 7.81%
3 BNP Paribas 2,167.79 20 7.49%
4 Citi 1,935.99 15 6.69%
5 Goldman Sachs 1,890.62 15 6.53%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 12,355.10 94 10.23%
2 Citi 11,234.36 86 9.30%
3 Goldman Sachs 8,483.82 60 7.02%
4 Bank of America Merrill Lynch 8,431.45 69 6.98%
5 Morgan Stanley 7,524.77 55 6.23%