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 14,902.24 74 7.02%
2 Credit Agricole CIB 12,540.25 55 5.91%
3 Deutsche Bank 11,856.29 46 5.59%
4 Goldman Sachs 11,396.29 47 5.37%
5 JPMorgan 11,075.99 36 5.22%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 4,293.59 52 7.15%
2 Deutsche Bank 3,871.16 39 6.45%
3 Goldman Sachs 3,757.37 32 6.26%
4 JPMorgan 3,631.57 40 6.05%
5 Credit Suisse 3,406.43 36 5.67%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,476.08 137 9.95%
2 Credit Suisse 12,936.58 90 7.36%
3 Goldman Sachs 12,429.32 91 7.07%
4 Citi 12,061.47 102 6.87%
5 Bank of America Merrill Lynch 12,022.06 109 6.84%