UK PP investors fear losing ground as Brexit uncertainty looms

UK investors that buy US private placements often struggle to compete with North American investors on price, but their disadvantage could be made worse by Brexit, if, as expected, sterling bond spreads widen.

  • By Silas Brown
  • 28 Nov 2018

“UK investors will want to see big new issue premiums, plus an illiquidity premium, as it’s a private placement,” said a US PP agent in London.

The US PP market is known for its comparative stability compared with public markets, and many market participants are expecting there to ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 20,612.84 88 6.57%
2 Barclays 17,884.99 63 5.70%
3 Deutsche Bank 16,989.42 65 5.42%
4 JPMorgan 16,764.37 73 5.34%
5 Goldman Sachs 13,769.34 60 4.39%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 4,378.57 16 6.99%
2 Barclays 4,327.63 14 6.91%
3 BNP Paribas 4,245.14 17 6.78%
4 Deutsche Bank 4,225.51 16 6.75%
5 Santander 4,047.54 15 6.46%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 646.47 4 13.48%
2 Deutsche Bank 449.87 3 9.38%
3 UniCredit 362.37 2 7.55%
3 Intesa Sanpaolo SpA 362.37 2 7.55%
5 BNP Paribas 336.21 2 7.01%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 4,062.98 27 10.98%
2 JPMorgan 3,365.43 24 9.10%
3 Morgan Stanley 2,808.35 19 7.59%
4 Goldman Sachs 2,634.46 19 7.12%
5 Barclays 2,610.00 21 7.05%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 4,935.91 16 6.30%
2 Citi 4,852.98 13 6.19%
3 Credit Agricole CIB 4,251.08 17 5.42%
4 Deutsche Bank 4,227.09 12 5.39%
5 SG Corporate & Investment Banking 3,791.79 15 4.84%