BT finds plenty of subscribers for Friday deal with little premium

UK telecoms provider BT Group avoided competing with six new issues on Thursday and found itself with no competing supply for its latest corporate bond deal on Friday. While BT’s ambitions for the size of its deal this time were more modest than previous trades, the demand was still strong, allowing it to print tight to secondary levels.

  • By Nigel Owen
  • 21 Sep 2018

In both March 2016 and June 2017 it sold five, seven and 10 year bonds in euros, and in November 2017 it sold two sterling tranches alongside another seven year euro tranche

BT continued its preference for multi-tranche deals when it announced a five year and ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 18,399.24 77 6.83%
2 Barclays 15,237.36 56 5.66%
3 Deutsche Bank 14,376.66 58 5.34%
4 JPMorgan 14,229.59 64 5.28%
5 Goldman Sachs 12,468.02 53 4.63%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 3,941.54 11 7.06%
2 Deutsche Bank 3,913.66 15 7.01%
3 SG Corporate & Investment Banking 3,905.45 14 6.99%
4 Citi 3,792.90 15 6.79%
5 Credit Agricole CIB 3,609.60 16 6.46%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 646.47 4 14.03%
2 Deutsche Bank 449.87 3 9.77%
3 UniCredit 362.37 2 7.87%
3 Intesa Sanpaolo SpA 362.37 2 7.87%
5 BNP Paribas 336.21 2 7.30%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 3,552.57 23 10.91%
2 JPMorgan 2,878.04 21 8.84%
3 Morgan Stanley 2,505.68 17 7.69%
4 Credit Suisse 2,364.95 15 7.26%
5 Goldman Sachs 2,331.78 17 7.16%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 4,861.67 14 6.98%
2 Deutsche Bank 4,227.09 12 6.07%
3 Citi 4,092.60 11 5.88%
4 SG Corporate & Investment Banking 3,630.52 14 5.21%
5 Credit Agricole CIB 3,490.70 15 5.01%