Solvay intervenes in tense Rhodia consent solicitation

Solvay, the Belgian chemicals company that took over Rhodia in September, has said Rhodia’s bonds are subject to a cross-default with its own.

  • 13 Dec 2011
The announcement came just days before the deadline in a consent solicitation process, in which Rhodia is asking investors in its bonds to agree that Rhodia no longer has to produce separate financial reports. Credit Suisse is handling the consent solicitation, for which the deadline is on Friday ...

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5 Barclays 32,581.37 126 4.59%

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5 UniCredit 7,055.47 28 6.24%

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5 Morgan Stanley 1,511.02 10 5.85%

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5 Credit Suisse 6,011.71 44 6.15%

Bookrunners of European Corporate IG Bonds

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1 BNP Paribas 9,779.54 44 6.23%
2 JPMorgan 9,700.92 35 6.18%
3 Citi 9,615.13 40 6.12%
4 Deutsche Bank 9,025.53 37 5.75%
5 Goldman Sachs 8,943.16 20 5.70%