Liability management catches on as Casino deals Eu1.5bn

Casino Guichard-Perrachon this week became the latest European corporate to extend the maturity of its debt through an exchange and tender offer as tightening spreads make liability management exercises increasingly attractive.

  • 05 Feb 2010

On Tuesday, the French supermarket company (rated BBB-/BBB-) issued Eu887.75m of seven year paper to complete its liability management exercise, exchanging it for some of its bonds due in 2012 and 2013.

The bond exchange and tender offers, launched on January 26 and led by BNP Paribas, Calyon, ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 64,909.69 329 5.49%
2 Citi 62,491.67 319 5.29%
3 Bank of America Merrill Lynch 59,194.98 310 5.01%
4 Barclays 53,154.18 230 4.50%
5 Morgan Stanley 44,095.48 262 3.73%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 15,969.80 42 8.15%
2 SG Corporate & Investment Banking 13,083.29 52 6.68%
3 BNP Paribas 12,515.78 72 6.39%
4 Deutsche Bank 11,818.83 59 6.03%
5 Citi 11,677.27 53 5.96%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,970.40 18 8.37%
2 Citi 2,605.77 18 7.34%
3 BNP Paribas 2,567.12 24 7.23%
4 JPMorgan 2,467.56 18 6.95%
5 Goldman Sachs 1,928.73 16 5.43%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 14,123.16 113 9.93%
2 Citi 12,838.91 103 9.03%
3 Bank of America Merrill Lynch 10,373.60 87 7.29%
4 Goldman Sachs 10,251.14 76 7.21%
5 Morgan Stanley 8,443.55 63 5.94%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 12,457.71 53 5.50%
2 BNP Paribas 12,133.80 69 5.36%
3 Citi 12,116.90 53 5.35%
4 Barclays 10,524.24 47 4.65%
5 JPMorgan 10,500.61 46 4.64%