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 Bank of America Merrill Lynch 70,623.36 316 6.07%
2 JPMorgan 70,307.95 324 6.04%
3 Citi 56,904.40 315 4.89%
4 Barclays 56,396.85 205 4.85%
5 Goldman Sachs 48,004.02 187 4.12%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 16,239.71 66 9.18%
2 SG Corporate & Investment Banking 13,010.36 59 7.35%
3 Deutsche Bank 11,918.52 51 6.73%
4 UniCredit 10,396.75 43 5.87%
5 Goldman Sachs 10,119.49 27 5.72%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3,229.39 37 7.60%
2 JPMorgan 2,843.00 30 6.69%
3 Credit Suisse 2,741.05 26 6.45%
4 Deutsche Bank 2,422.42 23 5.70%
5 Goldman Sachs 2,249.87 23 5.29%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 12,583.04 101 9.88%
2 Citi 9,456.00 80 7.42%
3 Barclays 9,040.11 67 7.10%
4 Bank of America Merrill Lynch 8,939.78 84 7.02%
5 Goldman Sachs 8,209.96 67 6.45%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 17,249.09 50 6.37%
2 BNP Paribas 16,943.78 64 6.25%
3 HSBC 16,608.33 71 6.13%
4 Citi 15,301.42 60 5.65%
5 JPMorgan 14,737.95 49 5.44%