Tank & Rast sells 8x levered HY at 6.75%

Tank & Rast, the German motorway services business, sold an 8.1 times levered second lien bond inside guidance on Tuesday. And, in line with the bullish market trend, the notes traded over three cash points higher on Thursday.

  • By Stefanie Linhardt
  • 29 Nov 2013

The €460m of seven year notes with a B issue rating from Standard & Poor's were sold at par with a 6.75% coupon.

Global coordinators Deutsche Bank (billing and delivering), Barclays and RBS and bookrunners Commerzbank, Credit Suisse, ING, Nomura, RBC and UniCredit released initial talk in ...

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GlobalCapital European securitization league table

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

Bookrunners of Global Structured Finance

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1 Citi 1,505.59 4 13.16%
2 SG Corporate & Investment Banking 1,292.64 1 11.30%
2 Rabobank 1,292.64 1 11.30%
4 Wells Fargo Securities 942.61 3 8.24%
5 Mizuho 875.48 2 7.65%