Winners and losers in European high yield

It’s a tale of two markets in the non-investment grade space: while some borrowers are riding high, others are falling by the wayside. The European high yield market is continuing to recover but not every transaction has had an easy time of it. A €300m eight year deal for French steelmaker Ascometal was rumoured to be struggling since the end of last week. On Wednesday new talk of a potential pulling of the deal has crossed bankers’ radar, although bookrunners Bank of America Merrill Lynch and Morgan Stanley did not confirm the news.

  • 28 Mar 2012

The €375m bond to take out Spie’s hung bridge is finding a better reception. Global coordinators HSBC, Morgan Stanley and Société Générale and bookrunners BNP Paribas, Crédit Agricole and Deutsche Bank were planning to sell the August 2019 notes on Wednesday. Guidance is in the 11%-11.5% area.

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 27,039.93 106 7.36%
2 Deutsche Bank 25,125.19 81 6.84%
3 Bank of America Merrill Lynch 23,128.33 61 6.29%
4 BNP Paribas 19,315.94 110 5.26%
5 Credit Agricole CIB 18,706.93 106 5.09%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,488.13 59 8.47%
2 Citi 11,496.21 73 7.22%
3 UBS 11,302.86 45 7.09%
4 Morgan Stanley 10,864.95 59 6.82%
5 Goldman Sachs 10,434.21 54 6.55%