Sirius difficulties: miner “on knife-edge” as crucial bond offering postponed

UK mining company Sirius Minerals delayed its $500m high yield bond on Tuesday,aiming to try again in September. The clock is ticking on the fertiliser mine project in the Yorkshire Moors. Sirius has until October 30 to entice investors or its whole financing package will collapse.

  • By Aidan Gregory, Karoliina Liimatainen
  • 06 Aug 2019
The company blamed market turbulence as the reason for the delay in a two-sentence press release, published on Tuesday morning. Sirius said it intends to give the bond another go later this quarter “when the conditions have improved”.

Sirius “absolutely” will return to the market in ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
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1 Deutsche Bank 7,517.46 42 6.58%
2 BNP Paribas 7,317.76 54 6.40%
3 Goldman Sachs 7,236.80 38 6.33%
4 Credit Agricole CIB 6,744.91 37 5.90%
5 Barclays 6,209.03 28 5.43%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Citi 4,728.01 24 9.17%
2 JPMorgan 3,649.83 29 7.08%
3 Deutsche Bank 3,638.27 22 7.05%
4 Barclays 3,441.80 22 6.67%
5 Goldman Sachs 3,389.62 26 6.57%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 18,847.11 143 9.43%
2 JPMorgan 18,279.02 147 9.15%
3 Goldman Sachs 14,831.56 109 7.42%
4 Bank of America Merrill Lynch 14,255.85 117 7.13%
5 Morgan Stanley 12,912.93 86 6.46%