Brakes seeks £200m high yield debut in busy sterling week

Food distributor Brakes is one of three high yield issuers trying to sell sterling bonds this week. The company, owned by Bain Capital, hopes to issue £200m of five year notes.

  • By Stefanie Linhardt
  • 18 Nov 2013

Payday lender DFC Global and housing group Grainger are also preparing sterling high yield deals.

Brakes' transaction will be senior secured and have a first call option after two years. It is expected to be rated B3/B-.

Barclays is billing and delivering and HSBC also bookrunning.

A roadshow started ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 95,847.77 272 11.13%
2 Bank of America Merrill Lynch 80,029.51 227 9.30%
3 JPMorgan 72,172.60 208 8.38%
4 Wells Fargo Securities 69,859.54 198 8.12%
5 Credit Suisse 58,056.32 149 6.74%