Corporate Supply & Flows (FEBRUARY 13)

  • 16 Feb 2003
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WEEKLY UPDATE

The $17.5 billion of investment-grade corporate issuance that came to market last week tipped the annual total above the $80 billion level. The high-yield sector was also active with a further $2.5 billion of deals. In contrast to the early part of the year, the average rating of deals in the new issue market has dropped and the single-A and triple-B sectors were heavily represented with $8.6 billion and $5.4 billion of deals respectively. Supranational and sovereign issuance was light although we have seen over $77 billion of these deals so far this year. A notable feature of February's calendar has been an uptick in the volume of 30-year issuance with $5.7 billion of long end issuance in the last two weeks as companies look to lock in low absolute borrowing levels.

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

  • 16 Feb 2003

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%