Enexis prices benchmark through curve on €4bn book

Enexis, the Netherlands’ second largest electricity grid company, issued its second bond on Wednesday to overwhelming demand from investors that enabled it to price through its own curve and in line with its closest peer, the better known Alliander — which came to market the following day.

  • 09 Nov 2012

Rated Aa3 (stable)/A+ (positive), Enexis is wholly owned by Dutch provinces and municipalities.

In January it sold a debut €300m 10 year issue that Deutsche Bank and ING priced at 120bp over mid-swaps, with a book of about €800m.

The exceptional heat of the European corporate bond market — especially ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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4 Barclays 76,702.28 310 4.19%
5 Goldman Sachs 71,515.07 288 3.91%

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1 BNP Paribas 24,034.59 107 8.83%
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5 HSBC 13,969.93 79 5.13%

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1 Goldman Sachs 4,861.86 36 7.48%
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5 Credit Suisse 3,528.42 38 5.43%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 19,016.51 146 10.22%
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5 Citi 12,347.90 105 6.64%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 25,669.81 109 6.14%
2 BNP Paribas 24,179.70 104 5.79%
3 Barclays 24,153.71 85 5.78%
4 Deutsche Bank 22,215.53 89 5.32%
5 JPMorgan 21,837.60 77 5.23%