French properties prove fashionable for investors

French property companies were in vogue this week as Icade sold its fourth corporate bond in two years, further extending its redemption profile, while Mercialys, the firm spun off from supermarkets group Casino, saw its sub-benchmark deal 2.5 times oversubscribed.

  • 22 Feb 2018

Icade's leads Crédit Agricole, Crédit Mutuel CIC, HSBC, Natixis and Société Générale announced the new benchmark 10 year deal with initial price thoughts of 75bp-80bp over mid-swaps. A syndicate manager away from the deal said he thought 55bp represented fair value.

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 68,392.21 312 6.08%
2 JPMorgan 68,288.34 316 6.07%
3 Barclays 52,735.49 199 4.69%
4 Citi 52,062.33 303 4.63%
5 Goldman Sachs 49,093.57 183 4.36%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 17,417.83 66 9.96%
2 SG Corporate & Investment Banking 12,387.36 56 7.09%
3 Deutsche Bank 11,505.98 50 6.58%
4 Goldman Sachs 10,070.57 26 5.76%
5 UniCredit 9,827.69 40 5.62%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,908.04 34 7.69%
2 JPMorgan 2,667.48 29 7.05%
3 Credit Suisse 2,342.19 23 6.19%
4 Goldman Sachs 2,130.55 21 5.63%
5 Deutsche Bank 1,993.88 21 5.27%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 12,362.60 98 9.89%
2 Citi 9,045.27 76 7.23%
3 Barclays 8,801.09 64 7.04%
4 Bank of America Merrill Lynch 8,770.59 82 7.01%
5 Goldman Sachs 8,019.67 66 6.41%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 17,994.64 70 6.72%
2 Barclays 16,624.98 48 6.21%
3 BNP Paribas 16,416.11 62 6.13%
4 JPMorgan 16,204.87 48 6.05%
5 Citi 14,811.85 58 5.53%