Snai debut trades up in hot HY market

Snai, the Italian sports betting firm, increased the size of its debut bond issue on Wednesday and priced it tight relative to guidance, but it still traded up in what is a hot market.

  • By Stefanie Linhardt
  • 29 Nov 2013

The terms achieved are likely to have been considerably better than Snai would have achieved had it issued its bond in the early summer, when it first pre-marketed bonds.

Snai sold a €320m senior secured 4.5 year (June 2018) bond and a subordinated €160m five year tranche 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

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 118,624.20 342 12.98%
2 Bank of America Merrill Lynch 99,769.11 286 10.92%
3 Wells Fargo Securities 86,271.10 256 9.44%
4 JPMorgan 67,323.36 205 7.37%
5 Credit Suisse 49,265.86 144 5.39%