Expectations of ECB tapering spark demand for triple-Cs

Corporate issuers of triple-C rated bonds have finally found a reason to enter the primary market, as investor expectation over the chances of the European Central Bank raising rates has opened a window for them in July.

  • By Victor Jimenez
  • 11 Jul 2017

The European high yield bond market is on course to price €1.5bn of new triple-C rated notes in just seven days. That will be three times the volume of comparable issuance placed in the first half of the year, according to Dealogic data.

Last week, investors pocketed ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,543.40 76 7.20%
2 BNP Paribas 17,658.36 110 6.50%
3 Goldman Sachs 15,275.80 61 5.63%
4 Deutsche Bank 14,442.14 82 5.32%
5 HSBC 14,165.38 91 5.22%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 6,956.59 58 7.37%
2 Goldman Sachs 6,650.01 53 7.04%
3 Deutsche Bank 5,912.17 58 6.26%
4 Credit Suisse 5,670.23 59 6.00%
5 BNP Paribas 5,158.30 56 5.46%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 33,137.81 260 10.71%
2 Citi 26,387.36 211 8.52%
3 Bank of America Merrill Lynch 24,967.98 220 8.07%
4 Goldman Sachs 23,387.98 165 7.56%
5 Barclays 20,291.53 138 6.56%