Empark’s 10x covered deal shows HY open

Empark, the Spanish car parks operator, attracted a strongly oversubscribed book for its €385m bond debut.

  • By Stefanie Linhardt
  • 13 Dec 2013

The €235m fixed rate tranche was 10 times covered and traded up on Thursday — an overwhelming indication that the high yield primary market is still open despite the nearing Christmas holidays.

Besides the six year fixed rate tranche, the senior secured deal includes a €150m floating rate tranche ...

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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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4 BNP Paribas 598.25 2 9.26%
5 TD Securities Inc 241.54 1 3.74%