Gazing Into Lyondell's Future Traders See Bonds

  • 09 Jun 2002
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Some market players say a bond deal may be ahead for Lyondell Chemical. The company recently filed a shelf registration for up to $3.335 billion in debt or equity securities. That move, combined with a red-hot bond market and the non-call provision on the company's term loan "E" expiring last month, have investors looking for a bond deal that is going to pay down some of the company's bank debt.

Lyondell's term loan "E" has a call protection of 102, although the paper was being quoted at 100 1/2 ­ 101. The $850 million loan, currently priced at LIBOR plus 43/ 8%, is set to mature in June 2006. One dealer said that the company is having a bank meeting next week. Doug Pike, the company's recently appointed director of investor relations, could not comment on whether or not a bond deal was in the works.

 

  • 09 Jun 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 120,318.45 348 12.81%
2 Bank of America Merrill Lynch 99,988.41 288 10.64%
3 Wells Fargo Securities 88,516.28 265 9.42%
4 JPMorgan 69,240.12 209 7.37%
5 Credit Suisse 51,378.45 156 5.47%