Borealis seeks dollars and euros in Schuldschein market

Austrian plastics maker Borealis has returned to the Schuldschein market, seeking euros and dollars.

  • By Silas Brown
  • 08 Apr 2019
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The company, rated BBB+ by Standard and Poors, is looking for €150m-equivalent.

Commerzbank, LBBW and Raiffeisen Bank International are offering five, seven and 10 year euro notes, and five and seven year dollars.

Pricing ranges are 75bp-90bp, 90bp-105bp and 105bp-120bp for the euro tranches, and 105bp-120bp and 125bp-140bp for dollars.

"Borealis is well known and well liked by Schuldschein investors," said one banker away from the deal. 

Abu Dhabi’s sovereign wealth fund Mubadala owns 64% of Borealis, and the rest is owned by Austrian oil and gas company OMV.  

The leads will hold conference calls with investors on Wednesday, and order books close on May 8.

  • By Silas Brown
  • 08 Apr 2019

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2 Citi 41,586.42 196 5.40%
3 Bank of America Merrill Lynch 39,478.72 192 5.12%
4 Barclays 36,273.83 151 4.71%
5 Deutsche Bank 30,957.30 148 4.02%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Barclays 12,052.82 29 9.36%
2 SG Corporate & Investment Banking 9,163.95 33 7.12%
3 Deutsche Bank 8,910.77 40 6.92%
4 Bank of America Merrill Lynch 8,791.13 27 6.83%
5 BNP Paribas 8,029.09 40 6.24%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 JPMorgan 1,571.85 12 9.08%
2 Deutsche Bank 1,337.93 10 7.73%
3 BNP Paribas 1,305.75 15 7.54%
4 Goldman Sachs 1,225.64 11 7.08%
5 Citi 1,208.83 11 6.98%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 9,429.53 69 10.49%
2 Citi 8,913.64 63 9.92%
3 Bank of America Merrill Lynch 6,050.36 46 6.73%
4 Goldman Sachs 5,765.16 41 6.41%
5 Morgan Stanley 5,492.04 36 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 8,515.30 33 5.49%
2 Citi 8,108.21 29 5.22%
3 Barclays 7,869.78 33 5.07%
4 BNP Paribas 7,595.48 38 4.89%
5 Credit Agricole CIB 7,348.67 37 4.73%