BT leans on euros as sterling demand falters

The last time British Telecommunications (BT) sold sterling bonds, the global financial crisis was still to strike. It returned on Tuesday after more than 10 years away, issuing in euros and dollars, but investors were not as welcoming as the issuer may have expected.

  • By Nigel Owen
  • 16 Nov 2017
The Baa1/BBB+/BBB+ rated issuer gave the deal a very British feel with its choice of lead managers. Barclays, HSBC, Lloyds Bank, NatWest Markets and Santander announced a seven year euro tranche ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 56,095.72 267 6.36%
2 Bank of America Merrill Lynch 51,400.89 249 5.83%
3 Citi 45,171.22 261 5.12%
4 Goldman Sachs 42,227.11 161 4.79%
5 Barclays 40,835.35 163 4.63%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 13,294.21 58 8.96%
2 SG Corporate & Investment Banking 11,443.69 48 7.71%
3 Deutsche Bank 9,931.66 45 6.69%
4 Goldman Sachs 9,799.92 24 6.60%
5 HSBC 8,701.89 49 5.86%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,858.53 33 8.03%
2 JPMorgan 2,667.48 29 7.49%
3 Credit Suisse 2,291.44 22 6.44%
4 Goldman Sachs 2,130.55 21 5.98%
5 Deutsche Bank 1,993.88 21 5.60%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11,523.06 89 9.92%
2 Citi 8,704.15 72 7.50%
3 Barclays 8,022.99 57 6.91%
4 Bank of America Merrill Lynch 7,343.56 69 6.32%
5 Goldman Sachs 7,339.26 62 6.32%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 12,363.49 54 6.16%
2 Citi 11,913.13 50 5.93%
3 JPMorgan 11,611.56 43 5.78%
4 Goldman Sachs 11,250.97 27 5.60%
5 Deutsche Bank 11,180.50 48 5.57%