Total issuance: $5.451 billion in 16 deals
Columns are amounts in billions of dollars, count of deals and percentage by dollar value.
Yield
| Less than 6% | 0.266 | 1 | 4.88%
|
| 7%-7.99% | 2.226 | 7 | 40.84%
|
| 8%-8.99% | 0.383 | 1 | 7.03%
|
| 9%-9.99% | 0.433 | 2 | 7.94%
|
| 10%-10.99% | 0.322 | 1 | 5.90%
|
| 11% and higher | 0.426 | 1 | 7.81%
|
| Floater | 1.396 | 3 | 25.60%
|
| Total | 5.451 | 16
|
|
|
|
|
| Pricing versus talk
|
|
|
| Lower | 0.674 | 1 | 12.36%
|
| Low end | 1.763 | 8 | 32.34%
|
| Middle | 1.385 | 4 | 25.40%
|
| High end | 0.285 | 1 | 5.23%
|
| NA | 1.345 | 2 | 24.67%
|
| Total | 5.451 | 16
|
|
|
|
|
| Upsized?
|
|
|
| Yes | 2.599 | 7 | 47.68%
|
| No | 2.852 | 9 | 52.32%
|
| Total | 5.451 | 16
|
|
|
|
|
| Quick sale?
|
|
|
| Yes | 2.954 | 8 | 54.18%
|
| No | 2.498 | 8 | 45.82%
|
| Total | 5.451 | 16
|
|
|
|
|
| Add on?
|
|
|
| Yes | 0.765 | 2 | 14.04%
|
| No | 4.686 | 14 | 85.96%
|
| Total | 5.451 | 16
|
|
|
|
|
| Zero coupon?
|
|
|
| No | 5.451 | 16 | 100.00%
|
| Total | 5.451 | 16
|
|
|
|
|
| Seniority
|
|
|
| Senior | 4.130 | 13 | 75.76%
|
| Senior sub | 0.668 | 2 | 12.26%
|
| Subordinated | 0.653 | 1 | 11.98%
|
| Total | 5.451 | 16
|
|
|
| Moody's rating
|
|
|
| Ba2 | 0.266 | 1 | 4.88%
|
| B1 | 0.325 | 2 | 5.96%
|
| B3 | 0.957 | 3 | 17.56%
|
| Caa1 | 1.329 | 5 | 24.38%
|
| Caa2 | 0.426 | 1 | 7.81%
|
| NR | 2.149 | 4 | 39.42%
|
| Total | 5.451 | 16
|
|
|
|
|
| Use of proceeds
|
|
|
| Dividend/recap | 1.922 | 4 | 35.25%
|
| LBO | 0.581 | 2 | 10.66%
|
| Refinance/tender for notes | 1.205 | 4 | 22.10%
|
| Repay bank debt | 0.266 | 1 | 4.88%
|
| Refinance | 0.655 | 3 | 12.00%
|
| Multiple | 0.823 | 2 | 15.11%
|
| Total | 5.451 | 16
|
|
|
|
|
| Industry sector (by SIC code)
|
|
|
| Manufacturing (2xxx, 3xxx) | 3.137 | 9 | 57.54%
|
| Communications (48xx) | 0.759 | 3 | 13.92%
|
| Wholesale, retail (5xxx) | 1.556 | 4 | 28.54%
|
| Total | 5.451 | 16
|
|
|
|
|
| Home country of issuer
|
|
|
| France | 1.592 | 3 | 29.21%
|
| Germany | 1.736 | 5 | 31.84%
|
| Greece | 0.325 | 2 | 5.96%
|
| Ireland | 0.711 | 2 | 13.04%
|
| Italy | 0.482 | 1 | 8.84%
|
| U.K. | 0.605 | 3 | 11.10%
|
| Total | 5.451 | 16
|
|
|
|
|
| Currency
|
| € | 5.260 | 15 | 96.49%
|
| £ | 0.191 | 1 | 3.51%
|
| Total | 5.451 | 16
|
|
|
|
|
Criteria
* Issuers from industrialized countries
* Denominated in currency of a European industrialized countries
* Converted to dollars at rate shown in Federal Reserve's H.10 release on day of pricing
* Offerings are included in the time period in which they price.
* Issues maturing in 397 days or less are excluded.
* Convertibles, trust preferreds, capital securities and preferred stock are excluded.
* Fixed-rate medium-term notes with a face value above $100 million are included. All other MTNs are excluded.
* Deals rated investment-grade by either Standard & Poor's or Moody's Investors Service are excluded but deals not rated by both are included.
* Amounts are based on the total sales price (face amount multiplied by the offering price
* Units made up of a bond and a warrant are included; other units are excluded.
* Sovereign issues are excluded.
* Each tranche is counted as a separate deal.
* Passthroughs, collateral trust and equipment trust certificates are included.
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