NATS cleared for take-off after £600m securitisation

NATS (En Route) plc, the troubled UK air traffic control operator, sought to turn a new leaf this week with the launch of a £600m bond.

  • 15 Aug 2003

The issue, wrapped by MBIA, was warmly received by fixed rate sterling investors who were able to gain a healthy pick-up on typical monoline spreads. Bookrunner Barclays Capital reported that the bonds were trading up in the secondary market.

The notes were sold to around 30 predominantly UK investors. ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 101,974.94 404 8.29%
2 Citi 95,105.34 354 7.73%
3 Bank of America Merrill Lynch 82,200.55 309 6.68%
4 Barclays 81,531.75 289 6.63%
5 HSBC 65,681.57 320 5.34%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 8,556.66 16 10.43%
2 Deutsche Bank 5,064.63 12 6.17%
3 Commerzbank Group 4,780.90 20 5.83%
4 BNP Paribas 4,451.03 21 5.43%
5 Citi 3,873.29 11 4.72%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 2,316.87 11 11.60%
2 Morgan Stanley 1,958.99 12 9.81%
3 Bank of America Merrill Lynch 1,598.24 7 8.00%
4 JPMorgan 1,371.27 7 6.86%
5 UBS 1,219.50 7 6.10%