Whirlpool hung out with the washing, M&A uncertainty forces Innogy to pay up

On Wednesday, US electrical appliance manufacturer Whirlpool became the second investment grade corporate borrower to pull a deal in a week. German energy company Innogy and Whirlpool both found the corporate bond market tough going on Wednesday, despite having employed two-day marketing strategies. Whirlpool, however, took the hardest hit.

  • By Nigel Owen
  • 23 May 2018

Whirlpool had held an investor update call on Tuesday, ahead of launching its deal on Wednesday. It told the market it planned to sell a benchmark euro 10 year deal – the same tenor the issuer had chosen on its previous two visits to the euro market.

In October ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 64,325.57 311 5.96%
2 Bank of America Merrill Lynch 62,435.53 301 5.79%
3 Citi 50,207.52 296 4.65%
4 Barclays 48,982.42 189 4.54%
5 Goldman Sachs 45,814.69 180 4.25%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 14,879.05 62 9.22%
2 SG Corporate & Investment Banking 11,949.59 52 7.41%
3 Deutsche Bank 11,409.70 49 7.07%
4 Goldman Sachs 10,070.57 26 6.24%
5 JPMorgan 9,535.19 43 5.91%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3,112.58 35 7.79%
2 JPMorgan 2,667.48 29 6.68%
3 Credit Suisse 2,291.44 22 5.74%
4 Goldman Sachs 2,130.55 21 5.34%
5 Deutsche Bank 1,993.88 21 4.99%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 12,362.60 98 9.90%
2 Citi 9,045.27 76 7.24%
3 Barclays 8,801.09 64 7.05%
4 Bank of America Merrill Lynch 8,770.59 82 7.02%
5 Goldman Sachs 8,019.67 66 6.42%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 14,396.56 66 6.12%
2 BNP Paribas 13,877.33 58 5.90%
3 Barclays 13,298.05 41 5.65%
4 JPMorgan 13,217.04 47 5.62%
5 Deutsche Bank 13,176.50 54 5.60%