Engie green offering breaks Danone’s records as hybrids return

On Tuesday multi-tranche and green bond issuance returned to the investment grade corporate bond market, leaving just the hybrid asset class untouched in 2018. That didn’t last long, as Engie and Aroundtown launched new hybrid deals on Wednesday morning, one of which set new lows for the product's coupon and spread levels.

  • By Nigel Owen
  • 10 Jan 2018
French energy company Engie is no stranger to the perpetual hybrid market, although it went 3.5 years without issuing a new deal before Wednesday's offering. In July 2014 it sold a pair of hybrids totalling €1.35bn alongside a £300m hybrid. Engie's most recent issue was a €1bn bond ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 75,347.35 359 5.93%
2 Bank of America Merrill Lynch 74,239.03 342 5.84%
3 Citi 61,954.56 351 4.87%
4 Barclays 58,729.13 218 4.62%
5 Goldman Sachs 50,207.03 203 3.95%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,045.93 79 9.43%
2 SG Corporate & Investment Banking 13,968.96 63 7.30%
3 Deutsche Bank 12,777.94 56 6.67%
4 UniCredit 10,968.94 48 5.73%
5 HSBC 10,482.96 60 5.48%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3,647.43 42 7.27%
2 JPMorgan 3,279.22 34 6.53%
3 Deutsche Bank 3,153.00 28 6.28%
4 Credit Suisse 2,939.41 27 5.86%
5 Goldman Sachs 2,892.87 27 5.76%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,575.71 111 9.62%
2 Citi 10,815.50 91 7.67%
3 Goldman Sachs 9,536.47 76 6.76%
4 Bank of America Merrill Lynch 9,455.18 88 6.70%
5 Barclays 9,449.01 71 6.70%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,928.06 77 6.44%
2 Barclays 17,915.82 53 6.09%
3 HSBC 17,859.84 77 6.07%
4 Citi 15,926.05 64 5.42%
5 JPMorgan 15,445.30 54 5.25%