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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 Citi 238,370.95 916 8.14%
2 JPMorgan 221,587.27 991 7.57%
3 Bank of America Merrill Lynch 214,543.42 717 7.33%
4 Barclays 184,024.85 666 6.29%
5 HSBC 157,697.44 732 5.39%

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1 JPMorgan 32,467.80 60 6.57%
2 BNP Paribas 32,284.10 130 6.53%
3 UniCredit 26,992.47 123 5.46%
4 SG Corporate & Investment Banking 26,569.73 97 5.37%
5 Credit Agricole CIB 23,807.36 111 4.81%

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1 Goldman Sachs 10,167.68 46 8.82%
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3 Citi 8,202.25 45 7.11%
4 UBS 6,098.17 23 5.29%
5 Credit Suisse 5,236.02 28 4.54%