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 Swedbank 160.81 1 11.11%
1 Sumitomo Mitsui Financial Group 160.81 1 11.11%
1 SEB 160.81 1 11.11%
1 Nordea 160.81 1 11.11%
1 Natixis 160.81 1 11.11%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 200.50 2 12.59%
1 Deutsche Bank 200.50 2 12.59%
3 UniCredit 113.00 1 7.09%
3 Sumitomo Mitsui Financial Group 113.00 1 7.09%
3 Mediobanca 113.00 1 7.09%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 544.58 5 11.06%
2 JPMorgan 482.08 5 9.79%
3 Wells Fargo Securities 374.58 3 7.61%
3 Goldman Sachs 374.58 3 7.61%
5 SunTrust Robinson Humphrey Inc 366.66 4 7.45%