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Holcim’s €500m no-grow over five times covered

Swiss cement maker Holcim clocked up a book of more than €2.5bn for its €500m bond on Thursday. The demand was startling but was not driven by generous pricing — the no-grow eight year bond came tight, some 10bp inside guidance of 130bp over mid-swaps.

  • 31 Aug 2012

The Baa2/BBB/BBB rated issuer locked in a 2.625% coupon, and at a re-offer of 99.786, the bonds yielded 2.655%. HSBC, Santander, Société Générale and UniCredit were leading the transaction.

A banker away from the deal said it was hard to figure out the new issue premium on the ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 118,674.50 528 5.97%
2 Bank of America Merrill Lynch 116,878.84 502 5.88%
3 Citi 96,145.88 505 4.84%
4 Goldman Sachs 80,483.55 313 4.05%
5 Barclays 79,930.76 329 4.02%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 BNP Paribas 26,531.99 119 8.90%
2 Deutsche Bank 21,930.45 80 7.36%
3 SG Corporate & Investment Banking 19,469.33 94 6.53%
4 HSBC 16,015.57 89 5.37%
5 UniCredit 15,925.26 74 5.34%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Goldman Sachs 5,404.19 42 7.80%
2 BNP Paribas 4,918.81 57 7.10%
3 Deutsche Bank 4,345.09 43 6.27%
4 JPMorgan 3,950.54 44 5.70%
5 Credit Suisse 3,757.05 40 5.42%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 20,123.74 153 10.19%
2 Goldman Sachs 15,830.49 107 8.01%
3 Credit Suisse 13,512.61 96 6.84%
4 Bank of America Merrill Lynch 13,267.41 122 6.72%
5 Citi 13,132.03 109 6.65%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 HSBC 28,248.54 116 6.18%
2 BNP Paribas 26,642.60 114 5.83%
3 Barclays 25,943.52 91 5.68%
4 JPMorgan 25,259.22 83 5.53%
5 Citi 24,204.97 95 5.30%