Europcar seeks cost cuts with €450m refi

Europcar has launched a €450m high yield bond to refinance its 2022s and likely cut coupon costs, as yields have come down for senior unsecured debt amid a dearth of bond supply.

  • By Owen Sanderson
  • 15 Apr 2019

The new issue, a seven year non-call three, refinances the company’s existing €600m 5.75% 2022 notes, alongside €150m of drawings under its new revolving credit facility.

BNP Paribas is the sole physical bookrunner, joined by Bank of America, Crédit Agricole and HSBC as global coordinators, and ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 8,625.11 58 6.82%
2 Deutsche Bank 8,575.51 45 6.79%
3 Credit Agricole CIB 7,956.46 42 6.30%
4 JPMorgan 7,542.47 37 5.97%
5 Goldman Sachs 7,283.60 38 5.76%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 5,481.64 30 9.39%
2 Deutsche Bank 4,163.77 26 7.14%
3 JPMorgan 4,112.40 33 7.05%
4 Barclays 3,860.86 25 6.62%
5 Goldman Sachs 3,789.69 29 6.49%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 21,298.45 175 9.57%
2 Citi 20,439.86 159 9.19%
3 Goldman Sachs 16,625.43 128 7.47%
4 Bank of America Merrill Lynch 15,591.95 135 7.01%
5 Morgan Stanley 14,366.81 98 6.46%