Nidec makes it Japanese double for euros

Japanese issuers are rarely seen in the European corporate bond markets, but electric motor manufacturer Nidec made it two Japanese corporate bond sales in two days, following Japan Tobacco’s multi-tranche deal on Wednesday.

  • By Nigel Owen
  • 20 Sep 2018

Japan Tobacco had all bases covered when it sold benchmark tranches in dollars, euros and sterling at the same time. The diversification on offer clearly appealed to European investors however as the €550m tranche was more than five times covered.

Nidec offered investors a much smaller deal, ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 17,784.21 75 7.08%
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3 JPMorgan 13,665.52 61 5.44%
4 Deutsche Bank 13,421.96 54 5.35%
5 Goldman Sachs 12,418.02 52 4.95%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 SG Corporate & Investment Banking 4,045.97 15 8.02%
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3 Deutsche Bank 3,350.30 14 6.64%
4 Barclays 3,308.76 11 6.56%
5 Credit Agricole CIB 3,046.24 15 6.04%

Bookrunners of European HY Bonds

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Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 3,219.24 22 10.20%
2 JPMorgan 2,544.70 20 8.06%
3 Credit Suisse 2,364.95 15 7.49%
4 Goldman Sachs 2,331.78 17 7.39%
5 Barclays 2,307.33 19 7.31%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Barclays 4,228.88 14 6.60%
2 Citi 4,092.60 11 6.39%
3 SG Corporate & Investment Banking 3,771.05 15 5.89%
4 Deutsche Bank 3,663.73 11 5.72%
5 Bank of America Merrill Lynch 3,179.12 11 4.96%