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 14,876.98 73 7.10%
2 Credit Agricole CIB 12,540.25 55 5.99%
3 Deutsche Bank 11,856.29 46 5.66%
4 Goldman Sachs 10,876.28 46 5.19%
5 HSBC 10,815.72 51 5.16%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 4,199.27 50 7.07%
2 Deutsche Bank 3,839.34 38 6.46%
3 Goldman Sachs 3,725.55 31 6.27%
4 JPMorgan 3,599.75 39 6.06%
5 Credit Suisse 3,406.43 36 5.73%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,476.08 137 9.98%
2 Credit Suisse 12,881.03 89 7.35%
3 Goldman Sachs 12,373.76 90 7.06%
4 Citi 12,061.47 102 6.88%
5 Bank of America Merrill Lynch 11,966.50 108 6.83%