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Corp Bonds

Records tumble in US as Procter & Gamble, IBM enjoy lowest yields ever across curve

Funding costs for highly rated companies broke records in the dollar market this week, as firms like IBM and Procter & Gamble obtained all time low coupons from investors pouring cash into the market.

  • 03 Feb 2012

Supply was not too heavy, so investors could focus on a few high quality benchmark corporate issues from the likes of Praxair and McDonalds.

"There is a food fight among investors for credit product," said Jim Turner, head of debt capital markets for the Americas at BNP Paribas in ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
1 JPMorgan 39,565.05 188 6.56%
2 Citi 35,505.97 178 5.88%
3 Bank of America Merrill Lynch 35,067.53 175 5.81%
4 Barclays 32,370.08 153 5.36%
5 Deutsche Bank 30,342.90 152 5.03%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
1 SG Corporate & Investment Banking 9,851.37 38 8.59%
2 HSBC 9,454.37 35 8.24%
3 BNP Paribas 9,022.49 40 7.86%
4 Deutsche Bank 8,081.13 31 7.04%
5 Barclays 6,651.75 26 5.80%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
1 Deutsche Bank 3,191.07 24 8.82%
2 JPMorgan 2,453.26 25 6.78%
3 Morgan Stanley 2,358.70 18 6.52%
4 BNP Paribas 2,169.78 20 6.00%
5 Credit Suisse 2,123.54 17 5.87%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
1 Citi 10,896.00 78 10.53%
2 JPMorgan 10,789.22 92 10.43%
3 Morgan Stanley 9,519.16 66 9.20%
4 Credit Suisse 8,918.03 60 8.62%
5 Bank of America Merrill Lynch 8,506.48 69 8.22%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
1 SG Corporate & Investment Banking 11,247.84 44 7.29%
2 Barclays 11,005.02 43 7.13%
3 HSBC 10,416.68 47 6.75%
4 BNP Paribas 9,372.40 45 6.07%
5 Deutsche Bank 9,131.16 37 5.92%