Corporate bond week ahead: investor demand ensures roadshow calendar refills

Corporate bond issuance volume in Europe this week was lighter than previous weeks. However, there were still seven issuers that priced deals. The main difference this week was the size of deals. Nestlé’s €850m eight year transaction was the largest one to print, but most order books were still at least twice oversubscribed as investors showed little sign of slowing down for the summer.

  • By Nigel Owen
  • 14 Jul 2017

Bright Food, Digital Realty and London & Quadrant completed deals following roadshows, which combined to empty the pipeline somewhat. However, it has since been replenished with a new issue and two roadshows already planned for next week.

Steinhoff, the South African-based furniture and household goods retailer, ended ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 164,938.31 718 7.20%
2 Bank of America Merrill Lynch 147,126.56 669 6.42%
3 Citi 129,674.51 690 5.66%
4 Goldman Sachs 105,201.77 447 4.59%
5 Barclays 99,269.52 448 4.33%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 29,154.37 137 8.86%
2 Barclays 24,121.06 98 7.33%
3 Deutsche Bank 22,163.65 93 6.74%
4 SG Corporate & Investment Banking 20,050.48 104 6.10%
5 HSBC 19,151.76 90 5.82%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 7,123.00 59 7.43%
2 Goldman Sachs 6,789.41 55 7.08%
3 Deutsche Bank 5,954.72 59 6.21%
4 Credit Suisse 5,809.63 61 6.06%
5 BNP Paribas 5,208.30 57 5.43%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 33,802.85 265 10.75%
2 Citi 26,963.27 215 8.58%
3 Bank of America Merrill Lynch 25,506.35 227 8.11%
4 Goldman Sachs 23,587.99 168 7.50%
5 Barclays 20,408.08 140 6.49%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 26,974.23 134 6.41%
2 Deutsche Bank 26,448.76 95 6.28%
3 Barclays 26,042.03 120 6.19%
4 HSBC 25,650.40 123 6.09%
5 Citi 22,829.99 98 5.42%