Credit Suisse fends off usurpers to Mirant bond mandate

Having been bombarded with bids from investment banks looking to be tipped as joint-leads, Mirant Philippines opts to go with a one horse deal for its possible $1.2 billion high-yield bond issue.

After weeks of defending its sole lead manager status on the proposed bond deal for Philippine independent power producer IPP Mirant Philippines, Credit Suisse has put pen to paper and will be the lone manager on what could be AsiaƆs largest ever high-yield corporate offering.

The deal could be worth upwards of $1.2 billion, although no formal size has been determined. Mirant has $1.2 billion in loans maturing later this year. The borrower has yet to decide whether to fund...

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