Ista bond launch pushes weekly high yield count to 18

Ista, the German metering business, launched the high yield bond portion to finance its takeover by CVC on Friday. The deal announcement pushed the number of marketed deals in the European high yield market this week to 18.

  • 03 May 2013

The week was the busiest ever in terms of marketed European high yield issues, with 13 priced by Thursday, while New Look’s £808m of notes were still expected to be sold on Friday.

Ista's notes comprise €500m of senior secured and €525m of senior subordinated bonds.

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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 5,997 17 15.40
2 Citi 4,679 16 12.02
3 Lloyds Bank 3,158 6 8.11
4 Bank of America Merrill Lynch (BAML) 3,104 10 7.97
5 Morgan Stanley 3,066 8 7.88

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 69,085.90 230 10.50%
2 JPMorgan 63,371.79 193 9.63%
3 Wells Fargo Securities 50,770.30 154 7.72%
4 Bank of America Merrill Lynch 50,413.91 166 7.66%
5 Credit Suisse 45,852.68 144 6.97%