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 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 117,520.50 339 11.05%
2 Bank of America Merrill Lynch 94,721.79 272 8.91%
3 JPMorgan 92,612.23 269 8.71%
4 Wells Fargo Securities 82,597.19 239 7.77%
5 Credit Suisse 69,442.99 183 6.53%