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Heidelberg Druck puts out €60m CB

Heidelberger Druckmaschinen, the triple-C rated printing machine firm, on Tuesday evening raised €60m from a convertible bond that will help pay down a syndicated loan, diversify funding and extend maturities.

  • By Andrew Griffin
  • 04 Jul 2013


The deal was priced with an effective conversion premium of more than 40%, taking into account Wednesday’s stock skid, but even with a coupon of 8.5% represented a saving of around 200bp, compared to a straight high-yield bond.

The unsecured bond was structured as a four year maturity ...

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Bond Comments

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 229,400.82 1038 8.26%
2 Citi 214,044.42 891 7.71%
3 Bank of America Merrill Lynch 178,387.58 739 6.42%
4 Barclays 167,949.72 691 6.05%
5 HSBC 136,723.94 748 4.92%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 28,097.02 113 7.90%
2 Credit Agricole CIB 26,053.43 108 7.33%
3 JPMorgan 22,052.77 54 6.20%
4 Bank of America Merrill Lynch 21,672.09 56 6.10%
5 SG Corporate & Investment Banking 17,266.33 82 4.86%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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  • Last updated
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1 Morgan Stanley 7,509.08 37 9.66%
2 JPMorgan 7,363.27 46 9.47%
3 Goldman Sachs 6,842.44 35 8.80%
4 Citi 5,763.97 41 7.42%
5 UBS 4,691.07 23 6.04%