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Smokin! BAT ignores market fears to sell tight bond

British American Tobacco braved choppy and obstacle-ridden seas in the European corporate bond market to price a €600m 10 year bond on Wednesday — and found a strong reception.

  • 02 Nov 2011

“It’s gone very well, we had a high quality book of close to €4bn after reconciliations,” said a syndicate banker at one of the leads. The bond was priced at 123bp over mid-swaps, after original price talk of 130bp-135bp.

Bookrunners Barclays Capital, Citigroup, ING and Royal Bank of Scotland ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Bank of America Merrill Lynch 112,277.76 473 6.00%
2 JPMorgan 109,878.92 495 5.87%
3 Citi 88,017.80 470 4.70%
4 Barclays 76,951.08 312 4.11%
5 Goldman Sachs 74,833.83 295 4.00%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 BNP Paribas 24,479.91 110 8.83%
2 Deutsche Bank 20,556.46 75 7.41%
3 SG Corporate & Investment Banking 19,141.02 90 6.90%
4 UniCredit 15,521.61 71 5.60%
5 HSBC 14,553.77 82 5.25%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Goldman Sachs 5,048.40 37 7.53%
2 BNP Paribas 4,834.62 56 7.21%
3 Deutsche Bank 4,245.09 42 6.33%
4 JPMorgan 3,756.57 41 5.60%
5 Credit Suisse 3,672.86 39 5.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 19,149.85 147 10.09%
2 Goldman Sachs 14,341.06 101 7.56%
3 Credit Suisse 13,243.20 94 6.98%
4 Bank of America Merrill Lynch 12,775.52 117 6.73%
5 Morgan Stanley 12,558.86 88 6.62%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 HSBC 25,998.97 110 6.15%
2 BNP Paribas 24,691.87 107 5.84%
3 Barclays 24,303.18 86 5.75%
4 Deutsche Bank 22,812.36 93 5.40%
5 Citi 21,968.90 89 5.20%