UK Power keeps one shot back in rough conditions

UK Power Networks, the electricity transmission business, priced only two of its planned three tranches of sterling bonds on Friday June 10, as queasy investors demanded thick new issue premiums.

  • 13 Jun 2011

The three sister companies, London, South Eastern and Eastern Power Networks, had all roadshowed on Monday to Wednesday last week. BNP Paribas and Royal Bank of Scotland arranged the roadshow, and were joined as bookrunners for the deal by Barclays Capital, Deutsche Bank and Lloyds.

As regulated electricity distribution ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 83,949.72 377 5.90%
2 JPMorgan 81,974.06 398 5.76%
3 Citi 66,626.93 383 4.68%
4 Barclays 62,421.24 238 4.39%
5 Goldman Sachs 58,523.58 226 4.11%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,987.74 82 9.19%
2 Deutsche Bank 16,651.33 61 8.06%
3 SG Corporate & Investment Banking 14,054.70 64 6.81%
4 UniCredit 11,756.26 51 5.69%
5 HSBC 11,205.29 61 5.43%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3,863.89 45 7.26%
2 Goldman Sachs 3,593.75 29 6.75%
3 JPMorgan 3,391.91 36 6.37%
4 Deutsche Bank 3,241.44 30 6.09%
5 Credit Suisse 3,119.95 31 5.86%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,636.04 126 9.86%
2 Citi 11,317.47 97 7.14%
3 Goldman Sachs 10,803.60 84 6.81%
4 Bank of America Merrill Lynch 10,797.43 100 6.81%
5 Barclays 10,686.37 82 6.74%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 20,417.95 85 6.50%
2 BNP Paribas 19,882.59 80 6.33%
3 Barclays 18,647.73 58 5.94%
4 Deutsche Bank 16,816.67 70 5.36%
5 Citi 16,746.96 68 5.33%