Basis swap move provokes sterling action

The sterling corporate bond market has enjoyed its busiest two weeks of 2018 as a number of non-domestic funders decided the move in the cross currency basis swap to a five year high was too good to be ignored.

  • By Nigel Owen
  • 12 Jul 2018
The 10 year sterling basis swap had moved from minus 10bp in January to plus 14bp at the start of July, which alerted issuers to the competitive nature of issuing bonds in the currency. That level of plus ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 121,520.09 531 6.00%
2 Bank of America Merrill Lynch 120,082.12 506 5.93%
3 Citi 97,515.24 509 4.81%
4 Barclays 82,683.05 332 4.08%
5 Goldman Sachs 81,894.66 314 4.04%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 27,590.77 120 8.95%
2 Deutsche Bank 21,930.45 80 7.11%
3 SG Corporate & Investment Banking 19,469.33 94 6.31%
4 HSBC 17,074.35 90 5.54%
5 UniCredit 16,300.95 75 5.29%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Goldman Sachs 5,404.19 42 7.74%
2 BNP Paribas 4,918.81 57 7.04%
3 Deutsche Bank 4,345.09 43 6.22%
4 JPMorgan 3,950.54 44 5.65%
5 Credit Suisse 3,757.05 40 5.38%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 20,123.74 153 10.15%
2 Goldman Sachs 15,830.49 107 7.98%
3 Credit Suisse 13,629.27 97 6.87%
4 Bank of America Merrill Lynch 13,267.41 122 6.69%
5 Citi 13,132.03 109 6.62%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 28,248.54 116 6.15%
2 BNP Paribas 26,642.60 114 5.80%
3 Barclays 25,943.52 91 5.65%
4 JPMorgan 25,634.91 84 5.58%
5 Deutsche Bank 24,198.66 96 5.27%