Dixons sells first HY deal from UK retailer since May 2011

UK electronics retailer Dixons Retail sold its £150m 2017 bond on Tuesday, after less than two days of marketing. The bonds came with an 8.75% coupon to yield 9%, in line with 9% area guidance.

  • 11 Sep 2012

“The fact that Dixons is able to come tells you a lot about the state of the market,” said a high yield investor.

Earlier in the year and during the second half of 2011, new issues from speculative grade rated UK retailers would have been smiled at. The ...

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Bookrunners of Dollar Denominated HY Bonds

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5 Barclays 23,123.01 154 6.71%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Barclays 28,102.94 134 6.34%
2 Deutsche Bank 28,087.32 104 6.34%
3 BNP Paribas 27,948.80 144 6.31%
4 HSBC 25,973.95 128 5.86%
5 Citi 23,312.66 103 5.26%