home
login
contact
about
Finance Dublin
Finance Jobs
 
Tuesday, 4th August 2020
    Home             Archive             Publications             Our Services             Finance Jobs             Events             Surveys & Awards             
Private placements Back  
Usually refers to a bond issue that is placed directly with investors.
Bank of Ireland
Date launched: Ongoing
Volume: €2.5 billion in various tranches
Maturity: various averaging 3 years
Currency: EUR, GBP, USD, HKD, JPY and AUD
Arranger: Citigroup, Barclays, HSBC, JP Morgan, CFSB, RBS, BNP Paribas and UBS
Description: Corporate funding

Bord Gais
Date launched: 1/09/03
Date closed: 22/10/03
Volume: $400 million ($440 million)
Maturity: 7 to 12 year
Coupon: 95-105 basis points over US Treasuries
Arranger: Royal Bank of Scotland
Legal Adviser: McCann FitzGerald, Davis Polk & Wardwell (US)
Description: Bids of $967 million were received. This was higher than our requirements so tightened the pricing to the funding level. Amount raised was $400 million plus a €20 million tranche. All dollars raised were swapped to Euro. Margins paid were 95 €‘ 105 basis points over US Treasuries, which when swapped back to Euro gives a very competitive cost of funding due to the US swap spread.

ESB
Date closed: 12/03
Volume: USD $1.034 billion
Maturity: Various tranches
Arranger: ABN Amro, Barclays Bank
Description: General corporate purposes

Greencore
Date launched: 10/09/03
Date closed: 28/10/03
Volume: US $302 million (US$230 million and Stg£43 million)
Maturity: 2010-2013; 130m 7 years/ 72m 10 years/ 100m 12 years (all in $ equivalent)
Coupon: Average 5.47% and 5.76% for the dollar and sterling components respectively
Arranger: The Royal Bank of Scotland
Legal Adviser: Arthur Cox, Morrison & Foerster and Slaughter & May
Description: Refinancing of bank debt. The transaction was a private placement of senior unsecured notes through a newly incorporated Jersey subsidiary, Greencore Funding Limited.

Kerry Group
Date launched: 25/03/03
Date closed: 27/03/03
Volume: $650 million
Maturity: Tranche A 30 April, 2010, Tranche B 30 April 2013, Tranche C 30
Coupon: Tranche A 4.36%, Tranche B 4.99%, Tranche C 5.14%
Arranger: Royal Bank of Scotland
Legal Adviser to Kerry Group: Inhouse and Mayer, Brown Rowe and Maw, Chicago Office
Legal advisor to investors: Arthur Cox
Description: Private placement issue of three tranches of notes, to refinance existing debt

Digg.com Del.icio.us Stumbleupon.com Reddit.com Yahoo.com

space space space space space space
Home | About Us | Privacy Statement | Contact
©2020 Fintel Publications Ltd. All rights reserved.