Judgement day for Rallye/Casino

Buyers of credit default swap protection on bonds issued by Rallye, the holding company of French supermarket chain Casino, will find out on Friday how their positions might be settled, reports Owen Sanderson.

  • By Owen Sanderson
  • 30 May 2019

It was ruled earlier this week that the company’s sauvegarde procedure was a bankruptcy credit event. Lenders to Rallye are set to appoint advisers on Friday, and law firms are said to be contacting bondholders about setting up creditor committees.

BNP ParibasCrédit Agricole CIB, Crédit Mutuel-CIC, 

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 5,388.55 35 7.45%
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3 Deutsche Bank 5,163.07 27 7.14%
4 Goldman Sachs 4,132.89 22 5.71%
5 JPMorgan 4,083.96 19 5.65%

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Rank Lead Manager Amount €m No of issues Share %
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1 Deutsche Bank 2,970.40 18 8.44%
2 Citi 2,605.77 18 7.40%
3 BNP Paribas 2,567.12 24 7.29%
4 JPMorgan 2,467.56 18 7.01%
5 Goldman Sachs 1,928.73 16 5.48%

Bookrunners of Dollar Denominated HY Bonds

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1 JPMorgan 13,711.91 110 9.94%
2 Citi 12,738.91 102 9.24%
3 Goldman Sachs 9,904.15 73 7.18%
4 Bank of America Merrill Lynch 9,863.78 84 7.15%
5 Morgan Stanley 8,144.98 61 5.90%