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Conwert sells €80m CB at wides to fund tender offer

Conwert Immobilien Invest, a €750m market capitalisation Austrian property developer active in central Europe, sold the first convertible bond in Europe since June. As with the last deal — for Germany’s TAG Immobilien — it was priced at the wide end of guidance as the small size gave it little traction with the usual equity-linked investor base.

  • 31 Aug 2012

The repeat issuer was raising funds to partially support a tender offer to buy back one of its existing CBs, effectively extending the maturity while reducing debt.

It reported first half results on August 23 when it said that it was considering the tender and new issue but hadn’t ...

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Bond Comments

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
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1 Citi 329,208.56 1277 8.09%
2 JPMorgan 321,584.64 1392 7.90%
3 Bank of America Merrill Lynch 296,878.25 1014 7.29%
4 Barclays 249,463.73 926 6.13%
5 Goldman Sachs 218,838.41 733 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 46,136.68 182 7.00%
2 JPMorgan 44,545.29 93 6.76%
3 UniCredit 35,639.50 153 5.41%
4 Credit Agricole CIB 33,211.72 160 5.04%
5 SG Corporate & Investment Banking 32,419.80 126 4.92%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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  • Last updated
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1 JPMorgan 13,755.50 61 8.94%
2 Goldman Sachs 13,469.15 66 8.76%
3 Citi 9,716.40 55 6.32%
4 Morgan Stanley 8,471.86 53 5.51%
5 UBS 8,248.12 34 5.36%