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 JPMorgan 118,374.89 527 5.99%
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4 Goldman Sachs 80,416.88 312 4.07%
5 Barclays 79,687.28 327 4.03%

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1 BNP Paribas 26,462.31 118 8.90%
2 Deutsche Bank 21,930.45 80 7.38%
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4 HSBC 16,015.57 89 5.39%
5 UniCredit 15,855.58 73 5.33%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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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%
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5 Credit Suisse 3,757.05 40 5.42%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 20,123.74 153 10.29%
2 Goldman Sachs 15,830.49 107 8.09%
3 Credit Suisse 13,309.03 95 6.80%
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5 Citi 12,928.46 108 6.61%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 28,248.54 116 6.20%
2 BNP Paribas 26,572.93 113 5.83%
3 Barclays 25,943.52 91 5.69%
4 JPMorgan 25,259.22 83 5.54%
5 Citi 24,204.97 95 5.31%