Bazalgette cleans up 10 year demand with green bond

Bazalgette Finance issued its first benchmark bond on Wednesday, when it found itself the only corporate issuer in Europe on the day before the US Thanksgiving holiday.

  • By Nigel Owen
  • 22 Nov 2017

Bazalgette Finance is the financing arm of Bazalgette Tunnel, the company responsible for building and operating the 25km Thames Tideway Tunnel, dubbed the “super sewer”. The construction of the sewer started in 2016 and is expected to be completed in 2023, at an estimated cost of £4.2bn ($5.59bn).

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Morgan Stanley 6,571.35 36 6.34%
2 Bank of America Merrill Lynch 5,728.88 36 5.53%
3 Citi 5,430.43 41 5.24%
4 HSBC 5,212.98 36 5.03%
5 BNP Paribas 4,994.98 27 4.82%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 2,505.33 10 10.40%
2 UniCredit 1,973.31 7 8.19%
3 Bank of America Merrill Lynch 1,666.37 6 6.91%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.55%
5 ING 1,477.05 5 6.13%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Goldman Sachs 553.99 4 8.96%
2 Credit Suisse 511.12 5 8.26%
3 BNP Paribas 472.73 3 7.64%
4 Barclays 413.98 4 6.69%
5 JPMorgan 409.23 3 6.62%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 2,178.82 15 9.29%
2 Citi 2,107.81 16 8.99%
3 Morgan Stanley 2,006.20 12 8.55%
4 Bank of America Merrill Lynch 1,559.21 15 6.65%
5 Deutsche Bank 1,550.60 9 6.61%

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 9.61%
2 UniCredit 1,892.23 6 7.39%
3 Bank of America Merrill Lynch 1,585.30 5 6.20%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.16%
5 ING 1,477.05 5 5.77%