Cogetech revealed as high yield issuer in waiting with €165m bond

Cogetech was uncovered on Monday as one of the two Italian gaming companies premarketing a debut bond issue in the high yield market. The gambling machines operator is seeking to sell a €165m bond.

  • By Stefanie Linhardt
  • 29 Jul 2013

The five year notes will be senior secured and callable after two years. With the proceeds, Cogetech wants to refinance debt, according to a banker close to the deal. 

BNP Paribas is lead bookrunner and billing and delivering on the transaction, with UniCredit and Deutsche Bank also bookrunners. 

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

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1 Citi 9,235.10 31 12.19%
2 Barclays 7,853.42 22 10.36%
3 Bank of America Merrill Lynch 7,473.95 24 9.86%
4 JPMorgan 7,225.34 25 9.54%
5 Wells Fargo Securities 6,258.35 24 8.26%