‘Animal spirits’ back in US high yield as cash floods back in

The US high yield market has snapped back after softening in February and March, with recent deals issued at steep discounts bouncing back in the secondary market as retail funds flocking back to the sector chase scarce paper.

  • By David Bell
  • 17 Apr 2018

Light deal volumes and a bounce in stock markets have helped US high yield bonds recover some of the losses they suffered in February and March.

The market is averaging just $6.4bn of net new issuance a month this year, which is just 50% of the average monthly ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 19,345.59 90 7.66%
2 JPMorgan 16,386.55 57 6.49%
3 Deutsche Bank 15,760.57 59 6.24%
4 Credit Agricole CIB 14,532.27 68 5.75%
5 Goldman Sachs 13,390.75 60 5.30%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,527.11 43 7.83%
2 BNP Paribas 4,918.81 57 6.96%
3 Deutsche Bank 4,372.15 44 6.19%
4 JPMorgan 3,977.60 45 5.63%
5 Credit Suisse 3,757.05 40 5.32%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,901.51 153 10.02%
2 Goldman Sachs 14,830.49 106 7.47%
3 Credit Suisse 13,745.94 98 6.92%
4 Bank of America Merrill Lynch 13,267.41 122 6.68%
5 Morgan Stanley 12,977.13 92 6.53%