Jumbo hangover leaves spare cash

October’s deal pipeline in the European leveraged debt markets is increasingly looking like a mismatch between supply and demand.

  • By Victor Jimenez
  • 03 Oct 2018

Borrowers have stepped back. From double digit volumes during the past few weeks, investors had about €1.5bn of high yield bonds on the table and less than €3bn worth of leveraged loans in dollars and euros this week.

But most market metrics indicated that buyers of speculative grade ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Credit Agricole CIB 5,767.46 29 6.76%
2 BNP Paribas 5,717.79 39 6.70%
3 Deutsche Bank 5,679.95 31 6.66%
4 JPMorgan 5,537.01 25 6.49%
5 Goldman Sachs 4,305.16 24 5.05%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,970.40 18 7.84%
2 Citi 2,783.23 20 7.35%
3 BNP Paribas 2,674.33 25 7.06%
4 JPMorgan 2,522.43 19 6.66%
5 Goldman Sachs 2,198.98 18 5.81%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,420.99 125 10.06%
2 Citi 13,883.41 115 9.06%
3 Bank of America Merrill Lynch 11,558.58 98 7.54%
4 Goldman Sachs 11,257.39 86 7.34%
5 Morgan Stanley 8,872.63 68 5.79%