Eurofima

  • 15 May 2003
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Rating: Aaa/AAA
Amount: Sfr500m
Maturity: June 19, 2015
Issue price: 100.75
Coupon: 2.75%
Launched: Wednesday May 14
Lead mgr: UBS Warburg

Bookrunner's comment:

This was a great transaction. Demand at the long end of the domestic market is strong because there has been a real lack of supply and when institutional investors have wanted to get duration, there has been no liquidity.

We spotted the opportunity that this dynamic has created and put together this 12 year deal.

This is quite an unusual size for a 12 year issue in this market, but it reflects the state of the market. We received a working mandate and started off with a Sfr200m size, expecting to issue perhaps Sfr300m-Sfr350m.

But we had the chance to sound out the market and demand was even higher than we had expected. We could therefore execute a Sfr500m issue and have already sold Sfr450m.

We priced the deal at mid-swaps minus 12bp, about 6bp wider than this week's cantonal issue.

  • 15 May 2003

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%