Yioula Glassworks SA

  • 11 Nov 2005
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Rating: B2/B+
Amount: Eu140m
Maturity: 2015
Issue price: 100.0
Coupon: 9%
Launch date: Thursday 10 November
Sole mgr: Citigroup

Bookrunner's comment:
The issuer is a Greek glass manufacturer with extensive operations in eastern Europe. The deal was a great success and after originally coming to the market with a planned Eu130m we were able to increase the transaction to Eu140m — this was after the book was three times oversubscribed.
We initially went out with guidance of 8.75% to 9%, and eventually priced at the wider end after deciding that this was the most sensible level following meetings with investors.
The transaction was good for the market as there has been a dearth of issuance lately.

Market appraisal:
"...the yield of 9% was at the wider end, but they managed to increase the size of the trade. There has been no supply recently and so any deal is welcome, but this does seem to have come at quite generous levels."

  • 11 Nov 2005

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%