Supply shortage keeps pricing tight in green utilities

After utility companies dominated the investment grade benchmark corporate bond market last week, Iren followed this week with a debut green bond that was priced tight to its secondary curve.

  • By Nigel Owen
  • 19 Oct 2017
A majority of the deals have been 10 years. Snam and A2A issued bonds with that tenor last week, and Iren made it three out of five this week when it announced its €500m no-grow deal with the same tenor and initial price thoughts of 110bp over ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 4,949.03 27 6.54%
2 HSBC 4,689.56 29 6.20%
3 Citi 4,283.12 31 5.66%
4 Morgan Stanley 4,222.26 24 5.58%
5 BNP Paribas 4,006.52 17 5.30%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,322.28 8 10.66%
2 UniCredit 1,892.23 6 8.69%
3 Bank of America Merrill Lynch 1,585.30 5 7.28%
4 Mitsubishi UFJ Financial Group 1,577.41 6 7.24%
5 ING 1,477.05 5 6.78%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 327.97 2 10.84%
2 JPMorgan 315.65 2 10.43%
2 Goldman Sachs 315.65 2 10.43%
4 Citi 266.00 2 8.79%
5 Bank of America Merrill Lynch 226.61 2 7.49%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,293.38 10 8.77%
2 JPMorgan 1,266.62 11 8.59%
3 Bank of America Merrill Lynch 1,194.99 11 8.10%
4 Morgan Stanley 1,164.20 9 7.89%
5 Wells Fargo Securities 1,039.86 9 7.05%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,459.18 9 10.26%
2 UniCredit 1,892.23 6 7.89%
3 Bank of America Merrill Lynch 1,585.30 5 6.61%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.58%
5 ING 1,477.05 5 6.16%