Triple-A holds sway, Microsoft stuns with debut

In the middle of a more difficult market than has been usual lately, the US dollar high grade sector got exactly what it wanted with the arrival of an industrial credit of impeccable quality and standing: Microsoft.

  • 15 May 2009

"The reaction to the Microsoft showed a flight to quality. It was the bond everyone wanted," said David Trahan, a managing director in the investment grade syndicate at Citigroup in New York.

It was the first ever visit to the US debt market for the software giant, and ...

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5 Barclays 104,758.42 476 4.35%

Bookrunners of Euro Denominated Corporate IG Bonds

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4 SG Corporate & Investment Banking 20,544.30 110 2.98%
5 HSBC 19,467.45 94 2.82%

Bookrunners of European HY Bonds

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Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 36,665.71 285 10.74%
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4 Goldman Sachs 24,712.66 181 7.24%
5 Barclays 22,906.34 151 6.71%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Deutsche Bank 28,046.25 103 6.40%
2 BNP Paribas 27,948.80 144 6.38%
3 Barclays 27,259.57 126 6.22%
4 HSBC 25,832.31 126 5.90%
5 Citi 23,312.66 103 5.32%