Nestlé exceptionalism: sells €500m bond a day after $500m

Nestlé executed one of its favourite bond maneouvres on Tuesday by selling $500m of Eurodollar notes — another in a long series of small and medium-sized deals to refinance its $11.8bn acquisition of Pfizer’s baby food business in 2012.

  • By Jon Hay
  • 06 Sep 2013

The Aa2/AA rated Swiss foods group picked Barclays, Deutsche Bank, Goldman Sachs and Mizuho to lead the March 2019 (5.5 year) issue.

“Nestlé are pretty good at keeping track of all the markets they access, euros, sterling and dollars, and they are one of the names that works ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 13,580.47 81 5.34%
2 Bank of America Merrill Lynch 13,508.50 73 5.31%
3 JPMorgan 13,456.27 70 5.29%
4 Deutsche Bank 11,749.55 54 4.62%
5 BNP Paribas 10,870.50 49 4.28%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 5,332.16 20 11.77%
2 Deutsche Bank 4,298.25 18 9.48%
3 Bank of America Merrill Lynch 2,869.21 10 6.33%
4 UniCredit 2,637.10 11 5.82%
5 SG Corporate & Investment Banking 2,511.85 12 5.54%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 BNP Paribas 807.11 8 8.36%
2 Morgan Stanley 732.63 4 7.59%
3 Goldman Sachs 657.29 6 6.81%
4 Credit Suisse 577.70 7 5.99%
5 JPMorgan 572.76 6 5.93%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 4,480.54 32 9.18%
2 Citi 3,899.63 30 7.99%
3 Credit Suisse 3,582.10 24 7.34%
4 Wells Fargo Securities 3,129.35 23 6.41%
5 Bank of America Merrill Lynch 2,721.10 26 5.58%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,027.03 18 9.41%
2 Deutsche Bank 4,039.27 17 7.56%
3 JPMorgan 2,756.29 10 5.16%
4 SG Corporate & Investment Banking 2,627.52 12 4.92%
5 Bank of America Merrill Lynch 2,602.36 8 4.87%