Corporate bond week ahead: US Market still open

British American Tobacco’s $21bn-equivalent raid on corporate bond markets either side of the Atlantic took all the headlines this week, but while it was the only story in Europe, the US market saw plenty of other deals.

  • By Nigel Owen
  • 11 Aug 2017

While BAT’s $17bn eight tranche deal was the second biggest deal of 2017 in the US market, there was another $27bn issued as well this week. Next week is not expected to reach those heights, but syndicate managers do still have a number of deals lined up.

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Aug 2017
1 JPMorgan 107,466.13 472 6.99%
2 Bank of America Merrill Lynch 96,739.82 441 6.29%
3 Citi 87,828.33 443 5.71%
4 Barclays 71,745.20 307 4.67%
5 Deutsche Bank 71,103.84 287 4.63%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 BNP Paribas 20,196.33 86 8.95%
2 Barclays 17,722.23 65 7.85%
3 Deutsche Bank 15,688.73 60 6.95%
4 HSBC 13,777.20 59 6.11%
5 SG Corporate & Investment Banking 12,521.92 64 5.55%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 JPMorgan 5,262.65 41 8.27%
2 Goldman Sachs 4,580.64 36 7.20%
3 Deutsche Bank 4,249.17 39 6.67%
4 Barclays 3,956.08 33 6.21%
5 Credit Suisse 3,928.87 43 6.17%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 JPMorgan 24,048.19 185 10.98%
2 Citi 19,193.03 146 8.76%
3 Bank of America Merrill Lynch 17,906.11 157 8.17%
4 Goldman Sachs 15,915.08 114 7.27%
5 Barclays 15,416.88 101 7.04%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 Deutsche Bank 20,529.33 63 6.95%
2 HSBC 19,637.33 84 6.64%
3 BNP Paribas 19,346.82 88 6.55%
4 Barclays 19,276.49 80 6.52%
5 Citi 17,718.43 69 6.00%