Novartis finds US bond bid strong but tricky

The US investment grade corporate bond market sprang back to life this week as four big issuers hit the market in quick succession on Thursday, after multi-billion dollar deals from Novartis and Comcast earlier in the week.

  • By Jon Hay
  • 21 Feb 2014

Google was the marquee name on Thursday, printing a $1bn 10 year deal that attracted more than $3bn of demand as investors clamoured for a credit that has issued only once before, in 2011.

The search engine leader, rated Aa2/AA, blessed Bank of America Merrill Lynch, Goldman Sachs ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Feb 2017
1 JPMorgan 19,181.02 86 7.20%
2 Citi 17,776.15 84 6.67%
3 Bank of America Merrill Lynch 17,204.49 82 6.46%
4 Deutsche Bank 16,868.52 64 6.33%
5 Barclays 13,437.17 55 5.04%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 BNP Paribas 5,411.83 21 11.84%
2 Deutsche Bank 4,560.65 12 9.98%
3 Citi 2,650.33 16 5.80%
4 Credit Agricole CIB 2,636.94 11 5.77%
5 Barclays 2,445.52 14 5.35%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 Credit Suisse 1,052.39 15 9.44%
2 Deutsche Bank 975.14 10 8.75%
3 Bank of America Merrill Lynch 875.05 8 7.85%
4 Citi 847.97 7 7.61%
5 HSBC 818.64 12 7.34%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 JPMorgan 5,718.36 39 11.74%
2 Bank of America Merrill Lynch 4,411.34 37 9.06%
3 Credit Suisse 3,673.68 24 7.54%
4 Citi 3,657.00 24 7.51%
5 Jefferies LLC 3,166.33 8 6.50%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 BNP Paribas 4,850.62 22 8.14%
2 Deutsche Bank 4,604.83 14 7.73%
3 Citi 3,901.74 19 6.55%
4 Credit Suisse 3,324.36 14 5.58%
5 JPMorgan 2,951.33 13 4.95%