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 Deutsche Bank 8,575.51 45 6.89%
2 BNP Paribas 8,524.78 57 6.84%
3 Credit Agricole CIB 7,835.85 40 6.29%
4 Goldman Sachs 7,283.60 38 5.85%
5 JPMorgan 6,871.08 35 5.52%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Citi 5,477.09 30 9.39%
2 Deutsche Bank 4,159.22 26 7.13%
3 JPMorgan 4,107.86 33 7.05%
4 Barclays 3,856.31 25 6.61%
5 Goldman Sachs 3,785.14 29 6.49%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 21,290.12 175 9.59%
2 Citi 20,439.86 159 9.20%
3 Goldman Sachs 16,517.10 127 7.44%
4 Bank of America Merrill Lynch 15,491.95 134 6.98%
5 Morgan Stanley 14,358.47 98 6.47%