Lebara asks for cov waivers as high yield ready for holiday

Telecoms firm Lebara is seeking further changes in its bond terms, including waivers on leverage covenants and a shorter maturity date, after it finally released group financial results which have been delayed since February.

  • By Victor Jimenez
  • 17 Dec 2018

Investors in Lebara’s bonds have until Friday to tell the trustee whether they agree to a fresh package of changes in the documentation of its €350m 2022 notes, sold at 675bp over Euribor under Norwegian law in September 2017.

Bondholders are set to receive €2m as a waiver ...

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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 5,789.90 38 7.24%
2 Credit Agricole CIB 5,356.91 28 6.70%
3 Deutsche Bank 5,287.08 28 6.61%
4 JPMorgan 5,144.14 22 6.43%
5 Goldman Sachs 4,189.40 23 5.24%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Deutsche Bank 2,970.40 18 8.22%
2 Citi 2,605.77 18 7.21%
3 BNP Paribas 2,567.12 24 7.10%
4 JPMorgan 2,522.43 19 6.98%
5 Goldman Sachs 2,128.73 17 5.89%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 14,300.49 115 9.86%
2 Citi 13,126.25 106 9.05%
3 Bank of America Merrill Lynch 10,825.27 91 7.46%
4 Goldman Sachs 10,521.81 79 7.25%
5 Morgan Stanley 8,720.88 66 6.01%