ECB buying is keeping net IG issuance negative

The European Central Bank’s corporate sector purchase programme maintained its rate of purchasing in the first six weeks of 2018, which helped support spreads through the recent period of volatility in global markets.

  • By Nigel Owen
  • 14 Feb 2018
According to ECB data, the annual growth rate of outstanding debt securities issued by non-financial corporations was 6.4% in December 2017. The rate for the monetary financial institutions sector was minus 0.6% and the rate for financial corporations other than MFIs was 0%. However, this year has produced ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 13,964.32 85 5.31%
2 JPMorgan 13,943.16 75 5.30%
3 Bank of America Merrill Lynch 13,806.99 77 5.25%
4 Deutsche Bank 12,022.71 57 4.57%
5 BNP Paribas 10,928.16 50 4.15%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,332.16 20 11.67%
2 Deutsche Bank 4,298.25 18 9.41%
3 UniCredit 3,009.41 12 6.59%
4 Bank of America Merrill Lynch 2,869.21 10 6.28%
5 SG Corporate & Investment Banking 2,511.85 12 5.50%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 807.11 8 8.36%
2 Morgan Stanley 732.63 4 7.59%
3 Goldman Sachs 657.29 6 6.81%
4 Credit Suisse 577.70 7 5.99%
5 JPMorgan 572.76 6 5.93%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,599.75 33 9.08%
2 Citi 4,085.51 32 8.06%
3 Credit Suisse 3,662.10 25 7.23%
4 Wells Fargo Securities 3,248.55 24 6.41%
5 Bank of America Merrill Lynch 2,721.10 26 5.37%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,027.03 18 8.98%
2 Deutsche Bank 4,039.27 17 7.22%
3 JPMorgan 2,863.44 11 5.11%
4 SG Corporate & Investment Banking 2,734.66 13 4.88%
5 HSBC 2,657.71 16 4.75%