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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 $m No of issues Share %
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1 JPMorgan 157,380.50 681 8.10%
2 Citi 153,197.61 617 7.89%
3 Bank of America Merrill Lynch 126,768.08 502 6.53%
4 Barclays 123,228.30 477 6.35%
5 HSBC 100,206.45 502 5.16%

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1 Bank of America Merrill Lynch 12,891.73 34 6.66%
2 BNP Paribas 12,285.93 60 6.35%
3 UniCredit 11,196.47 58 5.79%
4 Citi 9,580.75 37 4.95%
5 Deutsche Bank 8,945.44 35 4.62%

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1 Morgan Stanley 5,254.13 23 10.63%
2 JPMorgan 4,558.16 26 9.22%
3 Goldman Sachs 4,259.98 19 8.62%
4 Citi 3,649.88 23 7.38%
5 UBS 3,602.23 16 7.29%