High yield wakes up as Sappi and Faurecia launch

High yield bond issuance in Europe is perking up, with several deals being marketed or just about to be launched. Beginning its roadshow on Monday was Sappi, the South African paper company, which wants to issue €450m to replace an older bond; starting on Tuesday is French car parts group Faurecia, seeking €500m.

  • By Jon Hay
  • 11 Mar 2019
“We have been undersupplied in Europe, and with conditions clearly improving, people are finishing their year end reporting, and seeing where some of the double-Bs have been printing in the last couple of weeks is encouraging people to press the accelerator button,” said the head of high yield ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,789.90 38 7.23%
2 Credit Agricole CIB 5,356.91 28 6.69%
3 Deutsche Bank 5,287.08 28 6.60%
4 JPMorgan 5,144.14 22 6.43%
5 Goldman Sachs 4,189.40 23 5.23%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,970.40 18 8.08%
2 Citi 2,605.77 18 7.09%
3 BNP Paribas 2,567.12 24 6.98%
4 JPMorgan 2,522.43 19 6.86%
5 Goldman Sachs 2,128.73 17 5.79%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 14,933.58 120 9.99%
2 Citi 13,421.25 109 8.98%
3 Bank of America Merrill Lynch 11,061.94 93 7.40%
4 Goldman Sachs 10,888.23 82 7.28%
5 Morgan Stanley 8,845.88 67 5.92%