Corporate Supply & Flows (MARCH 26)

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

  • 31 Mar 2003
Email a colleague
Request a PDF

WEEKLY UPDATE

As expected, the commencement of military action has dimmed the pace of activity in the primary market and last week generated the lowest volumes all year. There was just $4 billion of investment-grade issuance over the week and this was notably more biased toward the upper rating categories than we have seen in recent weeks. However, the high yield sector was not shut out and $1.3 billion of junk deals were in the market as well as several convertible issues. Overall, March has seen a better than anticipated performance from the corporate sector. The market has absorbed $44 billion in new supply during the most heightened period of war-related uncertainty and significant volatility in both the equity and treasury markets. Yet against this backdrop spreads have remained stable. Investment grade spreads are five basis points tighter than at the start of the month and high-yield spreads have ground in by 55 basis points.

Analysis by CreditSights, Inc., an independent online credit research platform. Call (212) 340-3888 or visit www.CreditSights.com for more information.

  • 31 Mar 2003

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Jul 2017
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 25,935.16 104 7.16%
2 Deutsche Bank 25,125.19 81 6.94%
3 Bank of America Merrill Lynch 22,023.57 59 6.08%
4 BNP Paribas 19,315.94 110 5.34%
5 Credit Agricole CIB 18,706.93 106 5.17%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 12,578.87 55 8.17%
2 Citi 11,338.07 71 7.36%
3 UBS 10,682.06 44 6.93%
4 Goldman Sachs 10,419.53 53 6.76%
5 Morgan Stanley 10,194.88 57 6.62%