Three auto issuers set off early to avoid traffic

The first two days of this week saw more than €10bn of bond issuance, with more than a quarter of that volume made up of three deals sold by auto finance issuers. All three deals managed to achieve new issue premiums of 10bp or less, which was tighter than the majority of deals the week before.

  • By Nigel Owen
  • 17 May 2018

BMW Finance had to pay new issue premiums of around 8bp-10bp but saw strong demand as it sold a €1.75bn 4.5 and eight year dual tranche offering.

Daimler and Ford had brought deals in the first two weeks of May, and BMW was close behind when it ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 76,614.41 395 5.63%
2 Citi 70,238.56 378 5.16%
3 Bank of America Merrill Lynch 69,149.21 374 5.08%
4 Barclays 61,172.01 270 4.50%
5 Goldman Sachs 52,037.90 257 3.82%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 20,165.66 52 8.68%
2 BNP Paribas 15,996.41 91 6.88%
3 SG Corporate & Investment Banking 14,245.63 62 6.13%
4 Bank of America Merrill Lynch 14,105.99 45 6.07%
5 Deutsche Bank 13,105.24 66 5.64%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,970.40 18 7.46%
2 JPMorgan 2,822.43 22 7.09%
3 Citi 2,783.23 20 6.99%
4 BNP Paribas 2,674.33 25 6.72%
5 Goldman Sachs 2,523.29 20 6.34%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,399.18 133 10.00%
2 Citi 14,953.44 126 9.12%
3 Bank of America Merrill Lynch 12,235.32 104 7.46%
4 Goldman Sachs 12,091.12 94 7.37%
5 Morgan Stanley 9,577.47 74 5.84%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 15,535.37 89 5.81%
2 SG Corporate & Investment Banking 13,809.62 65 5.16%
3 Barclays 13,651.30 58 5.10%
4 JPMorgan 13,469.46 59 5.03%
5 Citi 13,203.46 60 4.94%