Astaldi’s Turkish lira anxieties put HY mart on geopolitics alert

Italian construction group Astaldi’s bonds have taken a beating on concerns that its exposure to Turkish risk could derail plans for injection of needed capital. For some high yield investors, it also is a reminder of market vulnerabilities ahead.

  • By Victor Jimenez
  • 14 Aug 2018

Astaldi began this week as it finished the week before — that is, leading the daily list of worst high yield credit performers — data compiled by Octo Finances shows.

The bid price of Astaldi’s Caa1/CCC rated €750m 7.125% 2020 issue fell 2.5 cents on August 10 ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,969.91 86 8.04%
2 Deutsche Bank 14,910.43 52 6.32%
3 JPMorgan 14,866.89 48 6.30%
4 Credit Agricole CIB 13,287.71 61 5.63%
5 Goldman Sachs 12,612.80 55 5.35%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,260.19 41 7.67%
2 BNP Paribas 4,918.81 57 7.17%
3 Deutsche Bank 4,345.09 43 6.34%
4 JPMorgan 3,806.54 43 5.55%
5 Credit Suisse 3,757.05 40 5.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,123.74 153 10.30%
2 Goldman Sachs 15,830.49 107 8.10%
3 Credit Suisse 13,243.20 94 6.78%
4 Bank of America Merrill Lynch 13,201.57 121 6.75%
5 Citi 12,928.46 108 6.61%