Noteholders reject ailing Praktiker’s plea for coupon cut

Praktiker, the struggling German DIY retailer, has failed to achieve the necessary bondholder votes to cut its high yield securities coupon from 5.785% to 1%.

  • 30 Mar 2012
Praktiker needed 50% of the unrated bond’s investors to vote in the poll, and to obtain consent of 75% of the voting investors. In fact, investors holding only 19.12% of the €250m notes voted during the voting period, which ran from March 22 to 24, according to a ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 84,129.70 379 5.88%
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3 Citi 67,851.45 386 4.74%
4 Barclays 62,732.35 240 4.38%
5 Goldman Sachs 59,388.99 229 4.15%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 BNP Paribas 18,987.74 82 9.19%
2 Deutsche Bank 16,651.33 61 8.06%
3 SG Corporate & Investment Banking 14,054.70 64 6.81%
4 UniCredit 11,756.26 51 5.69%
5 HSBC 11,205.29 61 5.43%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 BNP Paribas 3,863.89 45 7.26%
2 Goldman Sachs 3,593.75 29 6.75%
3 JPMorgan 3,391.91 36 6.37%
4 Deutsche Bank 3,241.44 30 6.09%
5 Credit Suisse 3,119.95 31 5.86%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 15,833.26 127 9.86%
2 Citi 11,539.69 98 7.19%
3 Goldman Sachs 11,025.83 85 6.87%
4 Bank of America Merrill Lynch 10,994.65 101 6.85%
5 Barclays 10,908.60 83 6.79%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 20,417.95 85 6.43%
2 BNP Paribas 19,882.59 80 6.27%
3 Barclays 18,647.73 58 5.88%
4 Deutsche Bank 17,562.97 71 5.53%
5 Citi 17,493.26 69 5.51%