CMA CGM sells €300m triple-C bond for GCP, refi

CMA CGM, the French container shipping business, sold its €300m unsecured bond on Tuesday. The 2018 deal came with an 8.75% coupon at 97.552 to yield 9.375%.

  • By Stefanie Linhardt
  • 13 Dec 2013

BNP Paribas was billing and delivering and joint bookrunner with Credit Suisse and Société Générale.

The notes were trading "a touch below reoffer" on Wednesday, according to a banker close to the deal.

CMA CGM will use $285m of the $405.2m equivalent of proceeds for general corporate purposes. ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
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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3 Wells Fargo Securities 88,516.28 265 9.47%
4 JPMorgan 69,113.88 208 7.39%
5 Credit Suisse 51,313.00 155 5.49%