Terminal Investment docks into US PP mart for euros and dollars

Terminal Investment Limited (TIL), a port operator headquartered in the Netherlands with terminals in 21 countries, has launched a US private placement (US PP) transaction in euros and dollars.

  • By Silas Brown
  • 24 Apr 2019
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Citi and NatWest Markets are the agents and have held roadshows in New York and London, according to people familiar with the deal.

The initial target volume is $300m-equivalent, across seven, 10, 12 and 15 year maturities.

“Judging by the reception Terminal got last year, as well as how well attended the roadshow was, I expect this trade to go well,” said one US PP investor in London, who is not participating himself. “It gives a good spread over typical PP borrowers, so quite a few investors will be interested.”

Citi and NatWest arranged a transaction for TIL roughly this time last year, placing around $853m-equivalent in euros and dollars.

There was a $100m seven year note with a 4.97% coupon, a $175m 10 year note with a 5.1% coupon and a $175m 12 year with a 5.2%. coupon. There were €180m 12 and 15 year euro notes paying 2.83% and 3.07% respectively.  


  • By Silas Brown
  • 24 Apr 2019

All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 55,767.79 273 5.42%
2 JPMorgan 55,320.17 277 5.38%
3 Bank of America Merrill Lynch 52,001.47 261 5.05%
4 Barclays 48,519.07 199 4.71%
5 Deutsche Bank 39,130.42 193 3.80%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Barclays 15,387.15 38 9.21%
2 SG Corporate & Investment Banking 11,366.45 42 6.81%
3 Deutsche Bank 10,351.53 52 6.20%
4 Citi 10,209.99 45 6.11%
5 Bank of America Merrill Lynch 10,069.16 30 6.03%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Deutsche Bank 2,849.41 16 9.07%
2 Citi 2,449.34 16 7.80%
3 JPMorgan 2,393.95 17 7.62%
4 BNP Paribas 2,167.79 20 6.90%
5 Goldman Sachs 1,890.62 15 6.02%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 12,495.10 96 10.02%
2 Citi 11,803.94 91 9.47%
3 Bank of America Merrill Lynch 8,842.75 73 7.09%
4 Goldman Sachs 8,683.82 62 6.96%
5 Morgan Stanley 7,624.77 56 6.11%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 11,153.16 44 5.78%
2 Citi 10,746.74 42 5.57%
3 BNP Paribas 9,702.75 54 5.03%
4 Barclays 9,653.59 40 5.01%
5 JPMorgan 8,970.38 37 4.65%