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Thomas Cook’s bonds plunge on debt renegotiating headlines

High yield investors heavily sold Thomas Cook’s bonds after the company’s announcement that it is renegotiating the terms of its loans with its lenders.

  • 22 Nov 2011

The UK travel company’s €400m senior unsecured 2015 bond plunged to 49.35 on Tuesday, yielding 32.587%, from 84.57 (12.286% yield) on Monday. Its £300m senior unsecured 2017 notes dropped to 47.87, with a yield of 26.616%, from 74.07 and a 14.859% yield on Monday.

“We don’t own the bonds, ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 54,441.15 272 5.42%
2 Citi 54,133.78 267 5.39%
3 Bank of America Merrill Lynch 50,995.02 256 5.08%
4 Barclays 47,764.00 195 4.75%
5 Deutsche Bank 38,371.19 190 3.82%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 Barclays 14,831.20 37 9.18%
2 SG Corporate & Investment Banking 11,124.69 41 6.88%
3 Deutsche Bank 10,204.94 51 6.31%
4 Bank of America Merrill Lynch 10,069.16 30 6.23%
5 BNP Paribas 9,682.74 53 5.99%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 Deutsche Bank 2,336.07 15 8.07%
2 JPMorgan 2,260.62 16 7.81%
3 BNP Paribas 2,167.79 20 7.49%
4 Citi 1,935.99 15 6.69%
5 Goldman Sachs 1,890.62 15 6.53%

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 12,395.10 95 10.16%
2 Citi 11,358.11 88 9.31%
3 Bank of America Merrill Lynch 8,530.25 71 6.99%
4 Goldman Sachs 8,483.82 60 6.95%
5 Morgan Stanley 7,524.77 55 6.17%

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 SG Corporate & Investment Banking 10,680.43 42 5.76%
2 Citi 10,190.79 41 5.50%
3 Barclays 9,097.64 39 4.91%
4 BNP Paribas 8,968.95 50 4.84%
5 Deutsche Bank 8,508.56 48 4.59%