Rabobank Nederland

  • 21 Jul 2005
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Rating: Aaa/AAA/AA+
Amount: TL40m
Maturity: 9 August 2007
Issue price: 100.725
Fixed re-offer price: 99.725
Coupon: 13.25%
Launch date: Wednesday 20 July
Payment date: 9 August
Joint books: TD Securities, Rabobank

Bookrunners' comments:

TD — The Turkish lira market is ticking over and banks are selling off the long positions. This deal has been bought entirely by retail buyers and has been popular. Investors are especially attracted by the name.

Rabobank — This is our first Turkish lira deal since May. The sector has looked a little choppy in recent months and most lead managers have been waiting for things to settle.

The market is more stable now and this allowed us to bring what is Rabobank's first 2007 paper in this sector.

Market appraisal:

"...we decided not to participate in this because we launched our own deal a couple of weeks ago. The structure looks fine and I'm sure it will sell down — the coupon looks to be especially attractive."

"...we took a small position on this trade because it looked good. It is well structured and the pricing is fine."

  • 21 Jul 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%