North Atlantic Drilling guides high yield bond in 6%-6.25% area

Norwegian offshore drilling company North Atlantic Drilling has released price talk for its $600m unsecured high yield bond. It aims to price the deal later today.

  • By Stefanie Linhardt
  • 27 Jan 2014

The five year, non-callable bond is guided in the 6%-6.25% area. Bookrunners Goldman Sachs, Credit Suisse and Morgan Stanley closed the European book at midday UK time, while the US book remains open until 11am New York time.

The unrated company, 74% owned by Seadrill, aims to use ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 59,774.40 197 10.64%
2 JPMorgan 52,017.12 155 9.26%
3 Wells Fargo Securities 42,153.78 123 7.51%
4 Bank of America Merrill Lynch 41,657.82 137 7.42%
5 Credit Suisse 38,415.30 121 6.84%