Volkswagen goes full throttle on $192m dim sum bond debut

Volkswagen made its debut in the dim sum bond market at the start of the week, raising Rmb1.25bn ($192.1m) that showed the increasing diversity, and ravenous demand, of the dim sum investor base.

  • 19 May 2011

Funding officials from the company travelled with the lead managers to meet 35 investors in Hong Kong and Singapore last week, before announcing the deal on Monday. They managed to attract twice that many investors during the execution, and the 70 accounts ended up placing Rmb3.5bn of
orders.

Those ...

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All Corporate Bonds

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4 Deutsche Bank 12,304.52 60 4.48%
5 BNP Paribas 11,238.26 52 4.09%

Bookrunners of Euro Denominated Corporate IG Bonds

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4 Bank of America Merrill Lynch 2,869.21 10 6.26%
5 HSBC 2,516.32 16 5.49%

Bookrunners of European HY Bonds

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1 BNP Paribas 923.77 9 8.85%
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Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 4,599.75 33 9.01%
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3 Credit Suisse 3,835.38 26 7.52%
4 Wells Fargo Securities 3,248.55 24 6.37%
5 Barclays 2,770.29 16 5.43%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 5,027.03 18 8.92%
2 Deutsche Bank 4,039.27 17 7.16%
3 JPMorgan 2,933.70 12 5.20%
4 SG Corporate & Investment Banking 2,734.66 13 4.85%
5 HSBC 2,719.21 17 4.82%