Manchester United IPO will be used to pay down HY bonds

Manchester United, the UK football club, has filed for an IPO in New York, aiming to use proceeds to repay some of its high yield bonds.

  • 31 Jul 2012

According to its preliminary prospectus filed with the US Securities and Exchange Commission yesterday, Manchester United plans to issue around 8.3m of class ‘A’ shares to raise net proceeds between $133m and $167m (£85m-£106m), at the expected offering price range of $16.00 to $20.00 a share.

Manchester United plans ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 173,212.52 757 7.17%
2 Bank of America Merrill Lynch 153,744.23 709 6.37%
3 Citi 136,722.26 732 5.66%
4 Goldman Sachs 109,440.99 472 4.53%
5 Barclays 105,316.67 480 4.36%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 29,965.54 145 8.68%
2 Barclays 25,184.66 104 7.29%
3 Deutsche Bank 24,247.02 105 7.02%
4 SG Corporate & Investment Banking 20,544.30 110 5.95%
5 HSBC 19,467.45 94 5.64%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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  • Today
1 JPMorgan 8,469.76 69 4.02%
2 Goldman Sachs 7,816.84 63 3.71%
3 Credit Suisse 6,908.88 70 3.28%
4 Deutsche Bank 6,384.59 62 3.03%
5 BNP Paribas 5,941.97 66 2.82%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 36,690.71 286 10.74%
2 Citi 28,630.88 229 8.38%
3 Bank of America Merrill Lynch 28,330.35 247 8.30%
4 Goldman Sachs 24,712.66 181 7.24%
5 Barclays 22,931.34 152 6.71%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 28,087.32 104 6.41%
2 BNP Paribas 27,948.80 144 6.38%
3 Barclays 27,400.32 128 6.25%
4 HSBC 25,832.31 126 5.90%
5 Citi 23,312.66 103 5.32%