Secondary market recovery ushers in five new IG deals

On Wednesday morning, it was doom and gloom as secondary spreads had widened and only Vodafone dipped its toe into new issuance waters. But after a stable afternoon and a positive session in the US, Thursday morning brought calm.

  • By Nigel Owen
  • 16 Nov 2017

While most of Thursday’s five deals offered more defensive tenors, the underlying tone was definitely positive, highlighted no better than by Orsted’s green combination of senior and hybrid issues.

The Danish power company, majority owned by the Danish government, sold its first bonds since changing its ...

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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 5,647.81 35 5.97%
2 Morgan Stanley 5,428.62 33 5.74%
3 Citi 5,164.93 39 5.46%
4 HSBC 4,900.29 32 5.18%
5 BNP Paribas 4,712.84 24 4.98%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 2,424.26 9 10.57%
2 UniCredit 1,892.23 6 8.25%
3 Bank of America Merrill Lynch 1,585.30 5 6.91%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.88%
5 ING 1,477.05 5 6.44%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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  • Today
1 BNP Paribas 472.73 3 8.70%
2 Goldman Sachs 460.40 3 8.48%
3 Credit Suisse 417.53 4 7.69%
4 Barclays 413.98 4 7.62%
5 Credit Agricole CIB 353.26 2 6.50%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,942.03 15 9.59%
2 Bank of America Merrill Lynch 1,559.21 15 7.70%
3 Wells Fargo Securities 1,535.51 14 7.58%
4 JPMorgan 1,388.05 13 6.85%
5 Morgan Stanley 1,381.20 11 6.82%

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 9.92%
2 UniCredit 1,892.23 6 7.63%
3 Bank of America Merrill Lynch 1,585.30 5 6.39%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.36%
5 ING 1,477.05 5 5.96%