High yield on a roll as Faurecia prices, Power Solutions tightens

The bullish mood in credit markets is sweeping through high yield bonds, enabling issuers, like their investment grade counterparts, to crank pricing several notches tighter during bookbuilds.

  • By Jon Hay
  • 13 Mar 2019

The big deal in the leveraged finance market is the $10.2bn financing for the buyout of Johnson Controls’ batteries business by Caisse de dépôt et placement du Québec.

It will have senior secured bonds and loans in dollars (helmed by JP Morgan) and euros (Barclays) plus an unsecured ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 1,517.16 8 7.69%
2 Goldman Sachs 1,495.21 6 7.58%
3 Credit Agricole CIB 1,179.51 9 5.98%
4 BNP Paribas 1,084.57 11 5.50%
5 Bank of America Merrill Lynch 1,011.25 5 5.13%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 849.80 7 9.30%
2 JPMorgan 703.06 6 7.69%
3 Deutsche Bank 636.38 4 6.97%
4 BNP Paribas 604.64 5 6.62%
5 Goldman Sachs 489.41 4 5.36%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 7,643.05 50 10.93%
2 JPMorgan 6,601.02 49 9.44%
3 Bank of America Merrill Lynch 5,031.63 36 7.19%
4 Goldman Sachs 4,767.07 33 6.81%
5 Credit Suisse 4,456.07 30 6.37%