BMC sells larger high yield bond in dollars only

BMC Software was able to increase the size of the high yield bond portion of its LBO financing late on Wednesday in New York, despite having scrapped its €250m euro tranche. The final deal priced $245m larger than initially planned, at $1.625bn.

  • By Stefanie Linhardt
  • 08 Aug 2013

The eight year non-call three notes priced with an 8.125% yield in line with guidance on Wednesday. 

Bookrunners Credit Suisse, RBC and Barclays released initial guidance in the 8% to 8.25% area on Tuesday.

Alongside the bond BMC is also selling covenant-lite loans, which have been reduced in size. The ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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1 Citi 80,818.31 235 11.57%
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3 Wells Fargo Securities 56,344.19 164 8.07%
4 JPMorgan 53,381.65 156 7.64%
5 Credit Suisse 44,872.46 115 6.43%