Deal sizes remain cautious but tenors start to lengthen again

Bouyed by the success of the four deals that priced on Tuesday, three issuers launched deals in the corporate bond market on Wednesday. While deal sizes remain at the smaller end of what is considered a benchmark, longer tenors from triple-B rated corporates are offering investors more yield.

  • By Nigel Owen
  • 06 Sep 2017
Iberdrola’s latest green bond was the largest deal of the day. The €750m 10 year trade achieved the same size as two of the issuer’s previous five deals, but the tenor extended its green bond curve by 17 months. Syndicates on the deal suggested the deal came ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 13,447.51 80 5.51%
2 Bank of America Merrill Lynch 13,357.85 72 5.47%
3 JPMorgan 12,634.37 66 5.18%
4 Deutsche Bank 11,223.90 52 4.60%
5 BNP Paribas 10,639.25 48 4.36%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 BNP Paribas 5,332.16 20 12.18%
2 Deutsche Bank 4,147.60 17 9.47%
3 Bank of America Merrill Lynch 2,718.56 9 6.21%
4 UniCredit 2,637.10 11 6.02%
5 SG Corporate & Investment Banking 2,365.25 11 5.40%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 807.11 8 8.39%
2 Morgan Stanley 732.63 4 7.62%
3 Goldman Sachs 657.29 6 6.83%
4 Credit Suisse 577.70 7 6.01%
5 JPMorgan 572.76 6 5.96%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 3,899.63 30 8.58%
2 JPMorgan 3,874.29 30 8.53%
3 Credit Suisse 3,350.85 23 7.37%
4 Wells Fargo Securities 3,129.35 23 6.89%
5 Bank of America Merrill Lynch 2,721.10 26 5.99%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,027.03 18 9.90%
2 Deutsche Bank 3,888.62 16 7.66%
3 JPMorgan 2,673.61 9 5.27%
4 SG Corporate & Investment Banking 2,480.92 11 4.89%
5 Bank of America Merrill Lynch 2,451.71 7 4.83%