Remains #1 in the EMEA Liability Management Bonds Table
Lucid Issuer Services (Lucid) continues to be the trusted agent for liability management and restructuring transactions, furthering its growth as a part of Kroll’s Business Services division.
Bloomberg’s EMEA Liability Management Bonds Table ranks Lucid Issuer Services number one, with 94 deals representing nearly 70% of the reported transactions and 78% of the volume for the first half of 2021. Lucid was also ranked number two globally and number three in Asia.
Debtwire’s 2021 Scheme and Plan Tracker reported 16 cases in the first quarter of 2021 in the UK courts. Lucid was involved as an agent in 86% of completed cases.
In the last year our team has doubled in size, and we’ve actively expanded our reach in Asia. Now, as a part of Kroll Business Services, our ability to serve clients globally has deepened further through Kroll’s global network of professionals and key investments in technology, security and other key resources.
Lucid was involved with several significant deals in the Asia market. For Oversea-Chinese Banking Corporation Limited, Lucid acted as a tabulation and information agent for their LIBOR to SONIA consent on a covered bond issue, while Barclays acted as a solicitation agent. The transaction marked a first for a Southeast Asian issuer.
For PT Chandra Asri Petrochemical TBK, Lucid acted as a tender and information agent on a modified Dutch auction on their senior notes. This was the fourth transaction for this issuer over 10 years, and Lucid worked with HSBC and DBS as dealer managers.
During our work with TBLA International Pte. Ltd., Lucid acted as their tender and information agent on two back-to-back transactions, including fixed price tender offers alongside a new issue on their senior notes. We worked with Mandiri Securities as a dealer manager on both transactions.
Lucid continues to be the trusted partner when in need of an experienced, professional and nimble agent for important liability management and restructuring transactions and appreciates the continued support of our clients to trust us with their deals.