Europe's levfin markets strong but tough

Borrowers are unloading a still increasing number of new deals in the leveraged debt primary markets in September, hoping to find sufficient demand. But investor appetite, while supportive, is showing a selective taste this week.

  • By Victor Jimenez
  • 12 Sep 2018

The European markets for corporate leveraged debt have begun the new season in shape by many metrics, sparking optimism and a heavy deal pipeline across both bond and loan from borrowers with speculative grade ratings.

The expectation for risk reward among investors, as tracked by Markit’s iTraxx Crossover ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,968.83 86 7.91%
2 JPMorgan 15,967.87 54 6.66%
3 Deutsche Bank 14,910.43 52 6.22%
4 Credit Agricole CIB 13,287.71 61 5.54%
5 Goldman Sachs 12,997.24 58 5.42%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,404.19 42 7.76%
2 BNP Paribas 4,918.81 57 7.06%
3 Deutsche Bank 4,345.09 43 6.24%
4 JPMorgan 3,950.54 44 5.67%
5 Credit Suisse 3,757.05 40 5.39%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,123.74 153 10.16%
2 Goldman Sachs 15,830.49 107 7.99%
3 Credit Suisse 13,629.27 97 6.88%
4 Bank of America Merrill Lynch 13,267.41 122 6.70%
5 Citi 13,132.03 109 6.63%