Investors swallow largest corporate bond deal of 2018 for Sanofi

Sanofi, the French pharmaceutical company, priced on Wednesday the largest corporate bond deal so far in 2018, an €8bn six-tranche deal. The company regularly uses a multi-tranche approach to the market, but this was its largest deal so far in any currency.

  • By Nigel Owen
  • 14 Mar 2018

AB InBev’s €4.25bn triple tranche deal in the second week of January had been the largest deal of the year before Sanofi nearly doubled that with its new issue. The deal will help fund its acquisitions of two biopharmaceutical companies specialising in rare blood disorders.

In January, ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 84,338.77 404 5.87%
2 Bank of America Merrill Lynch 84,129.70 379 5.85%
3 Citi 68,811.98 386 4.79%
4 Barclays 62,932.35 241 4.38%
5 Goldman Sachs 59,388.99 229 4.13%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,987.74 82 9.19%
2 Deutsche Bank 16,651.33 61 8.06%
3 SG Corporate & Investment Banking 14,054.70 64 6.81%
4 UniCredit 12,047.08 52 5.83%
5 HSBC 11,205.29 61 5.43%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3,863.89 45 7.26%
2 Goldman Sachs 3,593.75 29 6.75%
3 JPMorgan 3,391.91 36 6.37%
4 Deutsche Bank 3,241.44 30 6.09%
5 Credit Suisse 3,119.95 31 5.86%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,833.26 127 9.86%
2 Citi 11,539.69 98 7.19%
3 Goldman Sachs 11,025.83 85 6.87%
4 Bank of America Merrill Lynch 10,994.65 101 6.85%
5 Barclays 10,908.60 83 6.79%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 20,417.95 85 6.43%
2 BNP Paribas 19,882.59 80 6.26%
3 Barclays 18,647.73 58 5.87%
4 Deutsche Bank 17,562.97 71 5.53%
5 Citi 17,203.79 68 5.42%