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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 Citi 23,474.87 54 9.05%
2 JPMorgan 22,392.03 63 8.64%
3 BNP Paribas 18,479.27 34 7.13%
4 HSBC 16,833.19 48 6.49%
5 Barclays 16,808.93 39 6.48%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 56,371.71 236 6.78%
2 Credit Agricole CIB 50,115.87 240 6.03%
3 JPMorgan 46,785.38 108 5.63%
4 UniCredit 45,665.76 207 5.50%
5 SG Corporate & Investment Banking 43,321.52 173 5.21%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Morgan Stanley 114.77 1 17.52%
1 BNP Paribas 114.77 1 17.52%
3 Commerzbank Group 65.85 2 10.05%
4 Oakley Advisory Ltd 64.52 1 9.85%
4 Barclays 64.52 1 9.85%