• News

Goldman Sachs loses bond mandate

Goldman Sachs has been demoted from being a bookrunner on a Euro-sterling corporate bond issue, just days after it lost a senior sterling bond trader to Merrill Lynch.

Saint-Gobain Nederland, an industrial materials manufacturer, had originally mandated Goldman Sachs and HSBC to lead manage a £150m (€240m) seven-year bond issue, which was duly marketed by both lead managers.