Reverse Yankee demand pulls in Morris and UPS

European investors are becoming accustomed to US corporate issuers visiting the euro bond market. The hot market this week drew three such companies to issue.

  • By Nigel Owen
  • 09 Nov 2017

Last Thursday, tobacco company Philip Morris had sold a $2bn triple-tranche bond deal in its home market. On Friday, it was in Europe offering a €1bn dual-tranche transaction, taking advantage of the demand for longer tenors.

The US deal offered investors the choice of two, five or ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 14,730.91 80 5.37%
2 Citi 14,428.79 89 5.26%
3 Bank of America Merrill Lynch 14,307.56 80 5.21%
4 Deutsche Bank 12,304.52 60 4.48%
5 BNP Paribas 11,238.26 52 4.09%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,332.16 20 11.63%
2 Deutsche Bank 4,298.25 18 9.37%
3 UniCredit 3,009.41 12 6.56%
4 Bank of America Merrill Lynch 2,869.21 10 6.26%
5 HSBC 2,516.32 16 5.49%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 923.77 9 8.85%
2 Morgan Stanley 732.63 4 7.02%
3 Goldman Sachs 657.29 6 6.30%
4 Credit Suisse 577.70 7 5.53%
5 JPMorgan 572.76 6 5.49%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,599.75 33 9.01%
2 Citi 4,085.51 32 8.01%
3 Credit Suisse 3,835.38 26 7.52%
4 Wells Fargo Securities 3,248.55 24 6.37%
5 Barclays 2,770.29 16 5.43%

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 8.92%
2 Deutsche Bank 4,039.27 17 7.16%
3 JPMorgan 2,933.70 12 5.20%
4 SG Corporate & Investment Banking 2,734.66 13 4.85%
5 HSBC 2,719.21 17 4.82%