Pepsi pays up to achieve fizzy sterling debut

Europe’s corporate bond market was enlivened on Tuesday by a surprise visit from PepsiCo, making its debut in sterling with a £500m 10 year bond that was a big blowout.

  • 26 Oct 2012

The soft drinks and snacks group has never issued in euros and has not touched any currency other than dollars since 1998, according to Dealogic.

With no secondary bonds to aim for, bookrunners Deutsche Bank, HSBC and UBS looked at other highly rated US borrowers in sterling as guides ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 17,784.21 75 7.08%
2 Barclays 14,324.58 54 5.71%
3 JPMorgan 13,665.52 61 5.44%
4 Deutsche Bank 13,421.96 54 5.35%
5 Goldman Sachs 12,418.02 52 4.95%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 4,045.97 15 8.02%
2 Citi 3,792.90 15 7.52%
3 Deutsche Bank 3,350.30 14 6.64%
4 Barclays 3,308.76 11 6.56%
5 Credit Agricole CIB 3,046.24 15 6.04%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 397.10 3 12.77%
2 JPMorgan 300.50 3 9.66%
3 Deutsche Bank 200.50 2 6.45%
4 Credit Agricole CIB 193.60 2 6.22%
5 UBS 187.50 2 6.03%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 3,219.24 22 10.20%
2 JPMorgan 2,544.70 20 8.06%
3 Credit Suisse 2,364.95 15 7.49%
4 Goldman Sachs 2,331.78 17 7.39%
5 Barclays 2,307.33 19 7.31%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 4,228.88 14 6.60%
2 Citi 4,092.60 11 6.39%
3 SG Corporate & Investment Banking 3,771.05 15 5.89%
4 Deutsche Bank 3,663.73 11 5.72%
5 Bank of America Merrill Lynch 3,179.12 11 4.96%