Kingfisher joins buyback queue as corps continue deleveraging push

Kingfisher, a UK home improvement retailer, announced a £100m buyback of its only sterling bond on Monday in a further sign that European corporate borrowers have ample cash on their balance sheets and little need to issue new debt.

  • 11 Jan 2011

Kingfisher’s move, which includes a repurchase of most of its $325m of US private placements, came on the same day that UK utility National Grid said it would buy back Eu450m of notes.

“We could see more of these exercises,” said a syndicate banker in London. “The fact is ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 129,269.31 559 7.25%
2 Bank of America Merrill Lynch 116,844.07 527 6.55%
3 Citi 102,446.44 529 5.74%
4 Goldman Sachs 85,119.89 347 4.77%
5 Barclays 80,200.18 348 4.49%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 22,124.11 100 8.73%
2 Barclays 19,647.01 74 7.76%
3 Deutsche Bank 17,369.20 70 6.86%
4 HSBC 15,446.24 67 6.10%
5 SG Corporate & Investment Banking 14,434.81 77 5.70%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 5,335.13 43 7.91%
2 Goldman Sachs 4,721.48 37 7.00%
3 Deutsche Bank 4,563.62 43 6.77%
4 Credit Suisse 4,353.57 48 6.46%
5 Barclays 4,075.90 34 6.05%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 26,677.53 209 10.82%
2 Citi 20,598.64 163 8.36%
3 Bank of America Merrill Lynch 20,434.33 181 8.29%
4 Goldman Sachs 18,169.20 130 7.37%
5 Morgan Stanley 17,353.91 102 7.04%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 22,260.86 71 6.71%
2 HSBC 21,999.17 96 6.64%
3 Barclays 21,487.74 90 6.48%
4 BNP Paribas 20,967.30 101 6.32%
5 Citi 18,975.16 77 5.72%