LeasePlan launches chunky holdco refi

LeasePlan has launched a €1.3bn high yield bond from its Lincoln Financing holding company to pay back the original €1.6bn-equivalent holdco acquisition debt from its 2016 purchase by a consortium led by TDR Capital, and including Abu Dhabi Investment Authority, GIC and PGGM.

  • By Owen Sanderson
  • 25 Mar 2019

The company planned an IPO last October, with perhaps 25% of the company on offer, but pulled it as the market deteriorated. The new bond includes a change of control put at 101, suggesting the owners are not seeking a sale in the near future.

The new ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 3,229.16 18 7.27%
2 Credit Agricole CIB 2,829.34 15 6.37%
3 Goldman Sachs 2,807.00 13 6.32%
4 Bank of America Merrill Lynch 2,528.72 11 5.70%
5 Barclays 2,436.49 11 5.49%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
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1 JPMorgan 1,686.47 13 9.63%
2 BNP Paribas 1,305.75 15 7.46%
3 Deutsche Bank 1,263.77 9 7.22%
4 Goldman Sachs 1,225.64 11 7.00%
5 Citi 1,134.67 10 6.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 9,841.58 73 10.52%
2 Citi 9,459.24 67 10.12%
3 Bank of America Merrill Lynch 6,345.97 49 6.79%
4 Goldman Sachs 6,080.77 44 6.50%
5 Morgan Stanley 5,699.31 38 6.09%