Kelda joins UK water’s high yield club with hot £200m

Kelda Group, owner of Yorkshire Water, issued its first holding company bonds since 2001 today, following the example of other UK water companies in using subordinated high yield debt to increase leverage.

  • 30 Jan 2013

The £155m bond, rated BB-/BB+, was increased to £200m amid strong demand for high yielding paper, and was still more than 2.5 times oversubscribed.

“It was a pretty strong book,” said a banker at one of the physical bookrunners, Barclays and Royal Bank of Scotland, “mainly the big UK ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 JPMorgan 95,916.14 419 7.02%
2 Bank of America Merrill Lynch 84,274.67 386 6.17%
3 Citi 79,024.69 396 5.79%
4 Barclays 64,919.42 275 4.75%
5 Deutsche Bank 61,725.14 258 4.52%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 20,079.87 85 9.10%
2 Barclays 17,657.40 65 8.00%
3 Deutsche Bank 15,485.95 59 7.02%
4 HSBC 13,677.26 58 6.20%
5 SG Corporate & Investment Banking 12,319.14 63 5.58%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 JPMorgan 5,262.65 41 8.52%
2 Goldman Sachs 4,273.93 33 6.92%
3 Deutsche Bank 4,249.17 39 6.88%
4 Credit Suisse 3,915.70 42 6.34%
5 Barclays 3,740.83 31 6.05%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2017
1 JPMorgan 22,011.32 165 11.16%
2 Citi 17,958.06 133 9.10%
3 Bank of America Merrill Lynch 15,724.51 136 7.97%
4 Barclays 13,657.72 88 6.92%
5 Goldman Sachs 13,596.26 99 6.89%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 19,183.41 86 7.11%
2 Deutsche Bank 18,344.32 59 6.80%
3 HSBC 17,459.90 79 6.47%
4 Barclays 17,134.62 76 6.35%
5 Citi 15,489.08 65 5.74%