A tale of two markets: US bonds boom while Europe collapses

In contrast to the holiday torpor in the euro denominated corporate bond market, the dollar market is white hot with new business.

  • 06 Aug 2010

Although US borrowers completed as much prefunding in 2009 as did their European counterparts, they have chosen to print record amounts of debt in the last few weeks amid ideal borrowing conditions while the Europans are waiting for September.

The all-time lowest coupon on a corporate bond stood out ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 143,182.93 629 7.01%
2 Bank of America Merrill Lynch 127,099.87 583 6.22%
3 Citi 115,737.19 613 5.66%
4 Goldman Sachs 94,848.38 401 4.64%
5 Barclays 90,564.22 401 4.43%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 25,205.70 116 8.84%
2 Barclays 21,637.64 85 7.59%
3 Deutsche Bank 19,215.30 80 6.74%
4 HSBC 17,745.90 80 6.23%
5 SG Corporate & Investment Banking 16,081.95 88 5.64%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 5,988.32 51 7.60%
2 Goldman Sachs 5,851.83 48 7.43%
3 Deutsche Bank 5,236.76 54 6.65%
4 Credit Suisse 4,633.16 52 5.88%
5 Citi 4,412.98 34 5.60%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 30,278.08 235 10.60%
2 Citi 24,061.64 191 8.42%
3 Bank of America Merrill Lynch 23,183.88 205 8.11%
4 Goldman Sachs 21,207.87 149 7.42%
5 Barclays 19,256.47 129 6.74%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 56,596.43 205 6.89%
2 BNP Paribas 54,616.02 178 6.65%
3 Barclays 54,353.83 178 6.61%
4 Citi 49,249.02 159 5.99%
5 SG Corporate & Investment Banking 46,424.44 160 5.65%