Edcon bonds trade up on card portfolio sale

The high yield bonds of South African retailer Edcon tightened after the company announced the sale of its private label store credit card portfolio on Wednesday.

  • 08 Jun 2012

Edcon’s €317m 9.5% 2018 bonds jumped nearly six points, to 92.25, to yield 11.374% on Thursday. The previous day of trading before Wednesday was last Friday, because of the UK’s four-day Jubilee celebrations, when the bonds were last seen at 86.42.

The company’s $250m 9.5% 2018 dollar notes ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 44,483.98 215 5.61%
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4 Barclays 36,562.85 154 4.61%
5 Deutsche Bank 31,434.19 150 3.96%

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1 Barclays 12,052.82 29 9.24%
2 SG Corporate & Investment Banking 9,231.34 34 7.08%
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4 Bank of America Merrill Lynch 8,791.13 27 6.74%
5 BNP Paribas 8,267.11 42 6.34%

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Rank Lead Manager Amount €m No of issues Share %
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1 JPMorgan 1,686.47 13 9.63%
2 BNP Paribas 1,305.75 15 7.46%
3 Deutsche Bank 1,263.77 9 7.22%
4 Goldman Sachs 1,225.64 11 7.00%
5 Citi 1,134.67 10 6.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 9,841.58 73 10.52%
2 Citi 9,459.24 67 10.12%
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4 Goldman Sachs 6,080.77 44 6.50%
5 Morgan Stanley 5,699.31 38 6.09%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 SG Corporate & Investment Banking 8,582.70 34 5.47%
2 Citi 8,191.99 30 5.22%
3 Barclays 7,869.78 33 5.01%
4 BNP Paribas 7,833.50 40 4.99%
5 JPMorgan 7,498.03 29 4.78%