Freenet widens pricing after strong SSD run

European borrowers that flit between public and private debt have been choosing the Schuldschein market because of its comparatively tight pricing in the last few months but this week Freenet, the German telcoms firm, sweetened the terms it was offering investors.

  • By Silas Brown
  • 06 Dec 2018

The Schuldschein market processed €8.3bn of deals in the third quarter — more than in the whole first half of 2018 — as higher spreads in the bond market brought issuers back. 

“We have stability on our side,” said one Schuldschein arranger. “There's still demand at these tight ...

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All Corporate Bonds

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4 Barclays 48,479.25 198 4.73%
5 Deutsche Bank 39,140.38 193 3.82%

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4 Citi 10,209.99 45 6.11%
5 Bank of America Merrill Lynch 10,069.16 30 6.03%

Bookrunners of European HY Bonds

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5 Goldman Sachs 1,890.62 15 6.10%

Bookrunners of Dollar Denominated HY Bonds

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1 JPMorgan 12,495.10 96 10.02%
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4 Goldman Sachs 8,683.82 62 6.96%
5 Morgan Stanley 7,624.77 56 6.11%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 SG Corporate & Investment Banking 11,153.16 44 5.79%
2 Citi 10,746.74 42 5.58%
3 BNP Paribas 9,702.75 54 5.03%
4 Barclays 9,653.59 40 5.01%
5 JPMorgan 8,970.38 37 4.65%