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 121,520.09 531 6.01%
2 Bank of America Merrill Lynch 120,082.12 506 5.94%
3 Citi 97,515.24 509 4.83%
4 Barclays 82,683.05 332 4.09%
5 Goldman Sachs 81,894.66 314 4.05%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 27,590.77 120 8.95%
2 Deutsche Bank 21,930.45 80 7.11%
3 SG Corporate & Investment Banking 19,469.33 94 6.31%
4 HSBC 17,074.35 90 5.54%
5 UniCredit 16,300.95 75 5.29%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,404.19 42 7.76%
2 BNP Paribas 4,918.81 57 7.06%
3 Deutsche Bank 4,345.09 43 6.24%
4 JPMorgan 3,950.54 44 5.67%
5 Credit Suisse 3,757.05 40 5.39%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,123.74 153 10.16%
2 Goldman Sachs 15,830.49 107 7.99%
3 Credit Suisse 13,629.27 97 6.88%
4 Bank of America Merrill Lynch 13,267.41 122 6.70%
5 Citi 13,132.03 109 6.63%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 28,248.54 116 6.15%
2 BNP Paribas 26,642.60 114 5.80%
3 Barclays 25,943.52 91 5.65%
4 JPMorgan 25,634.91 84 5.58%
5 Deutsche Bank 24,198.66 96 5.27%