Kodak plunges while AES, Platinum, Stillwater plan to price

The United States is where the high yield action is. While three bonds are expected to be priced on Monday, the market is dominated by Kodak, which saw its bonds plunge in the secondary market after the company drew down $160m of its credit line on Friday.

  • 26 Sep 2011
“Usually a company draws these amounts when it one, needs the cash, and that is not a good sign, and two, is afraid that it might no longer have access in the future to the credit facility because it will be in breach of some covenant,” speculated a ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 18,065.90 76 7.04%
2 Barclays 14,324.58 54 5.58%
3 JPMorgan 13,715.52 62 5.34%
4 Deutsche Bank 13,703.65 55 5.34%
5 Goldman Sachs 12,468.02 53 4.86%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 SG Corporate & Investment Banking 4,045.97 15 8.01%
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3 Deutsche Bank 3,350.30 14 6.64%
4 Barclays 3,308.76 11 6.55%
5 Credit Agricole CIB 3,046.24 15 6.03%

Bookrunners of European HY Bonds

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3 UniCredit 362.37 2 7.87%
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5 BNP Paribas 336.21 2 7.30%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 3,219.24 22 10.20%
2 JPMorgan 2,544.70 20 8.06%
3 Credit Suisse 2,364.95 15 7.49%
4 Goldman Sachs 2,331.78 17 7.39%
5 Barclays 2,307.33 19 7.31%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Barclays 4,228.88 14 6.59%
2 Citi 4,092.60 11 6.38%
3 SG Corporate & Investment Banking 3,771.05 15 5.88%
4 Deutsche Bank 3,663.73 11 5.71%
5 Bank of America Merrill Lynch 3,179.12 11 4.95%