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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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All International Bonds

Rank Lead Manager Amount $b No of issues Share %
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1 JPMorgan 364.29 1680 8.39%
2 Citi 333.83 1420 7.69%
3 Bank of America Merrill Lynch 285.16 1235 6.57%
4 Barclays 256.17 1078 5.90%
5 HSBC 213.44 1175 4.92%

Bookrunners of All Syndicated Loans EMEA

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1 BNP Paribas 40.95 193 7.04%
2 Credit Agricole CIB 38.30 162 6.59%
3 JPMorgan 31.28 85 5.38%
4 Bank of America Merrill Lynch 26.65 82 4.58%
5 UniCredit 26.55 144 4.56%

Bookrunners of all EMEA ECM Issuance

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1 JPMorgan 11.53 77 9.60%
2 Morgan Stanley 11.15 54 9.28%
3 Goldman Sachs 10.04 53 8.36%
4 Citi 8.06 63 6.71%
5 Bank of America Merrill Lynch 5.64 31 4.69%