Consolidated Minerals last to print before Easter lull

After March’s record issuance of Eu7.2bn worth of European high yield bonds and April’s influx of small deals over the past few weeks, even the busy sub-investment grade market has slowed down between the holidays. The last European deal still in the market before Easter, Consolidated Minerals’ $405m (Eu278m) five year bond, priced last Thursday in line with 9% yield guidance.

  • 26 Apr 2011

The manganese ore producer priced the non-call three senior secured notes at 99.5032 with an 8.875% coupon. The notes tightened to a bid of 101.25 on Tuesday.

Consolidated Minerals launched the bond on Monday, April 11. Deutsche Bank and Citi organised a roadshow through Singapore, Hong Kong, London and ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 99,162.79 451 5.86%
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4 Barclays 72,887.24 287 4.31%
5 Goldman Sachs 67,458.35 264 3.99%

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1 BNP Paribas 21,922.23 100 8.77%
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5 HSBC 12,711.09 71 5.08%

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1 BNP Paribas 4,199.27 50 7.07%
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5 Credit Suisse 3,406.43 36 5.73%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 17,476.08 137 9.98%
2 Credit Suisse 12,881.03 89 7.35%
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5 Bank of America Merrill Lynch 11,966.50 108 6.83%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 24,095.98 100 6.17%
2 BNP Paribas 22,554.34 96 5.78%
3 Barclays 22,506.00 76 5.76%
4 Citi 21,179.37 84 5.42%
5 Deutsche Bank 21,068.78 84 5.40%