Carillion contagion contained but IG awaits true test

Investment grade loan bankers are keeping an eye on the Carillion scandal this week, though so far they are confident that the company’s failure will not impact the UK loan market beyond the banks immediately caught up in the affair. Meanwhile, leveraged debt markets in Europe are off to a roaring start to the year.

  • By Michael Turner, Ralph Sinclair, Victor Jimenez
  • 17 Jan 2018


Carillion’s lenders look set for some big losses on their loan books after the UK government contractor went into liquidation this week.

However, bankers remain upbeat that the fallout will be contained to the borrower and will not create a fearful sentiment across the market. “So far,” said one ...

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All Corporate Bonds

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1 Citi 7,410.35 20 9.53%
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4 JPMorgan 4,873.13 16 6.27%
5 Goldman Sachs 4,516.62 13 5.81%

Bookrunners of Euro Denominated Corporate IG Bonds

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4 Commerzbank Group 1,054.99 6 6.47%
5 JPMorgan 1,009.92 4 6.19%

Bookrunners of European HY Bonds

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Bookrunners of Dollar Denominated HY Bonds

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2 UniCredit 130.00 1 6.05%
2 SG Corporate & Investment Banking 130.00 1 6.05%
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2 Citi 130.00 1 6.05%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 2,636.08 6 8.72%
2 Barclays 2,499.67 4 8.27%
3 JPMorgan 2,303.98 3 7.62%
4 MUFG 2,123.57 3 7.02%
5 Bank of America Merrill Lynch 2,054.92 4 6.79%