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Go to Asia edition

Barclays left holding much of Vedanta CB

Indian mining company Vedanta Resources issued the first major convertible bond of the year this week, but investors shunned the $725m deal, leaving Barclays Capital long of the paper.

  • 27 Jan 2006

Rival bankers said Barclays had been left with a large and unhedgeable position in the bonds, which were fully underwritten.

BarCap launched the deal early on Monday morning to capture Asian interest and marketed it with a coupon range of 4.1%-4.6%, and at a conversion premium of 48%-55% above ...

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Bond Comments

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Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 258,439.97 1161 8.49%
2 Citi 234,461.54 980 7.70%
3 Bank of America Merrill Lynch 200,720.52 825 6.59%
4 Barclays 186,521.37 765 6.13%
5 Goldman Sachs 145,264.65 606 4.77%

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1 BNP Paribas 31,351.09 133 7.80%
2 Credit Agricole CIB 27,347.56 115 6.80%
3 JPMorgan 23,350.32 62 5.81%
4 Bank of America Merrill Lynch 22,838.09 62 5.68%
5 UniCredit 19,966.03 111 4.97%

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1 JPMorgan 8,160.55 49 10.08%
2 Morgan Stanley 7,744.92 38 9.57%
3 Goldman Sachs 6,966.15 37 8.61%
4 Citi 5,856.44 44 7.24%
5 UBS 4,823.67 25 5.96%