‘Too good to be true’ corporate market keeps on believing

Another exceptionally strong week for corporate bond issuance in Europe petered out slightly on Wednesday and Thursday, but the fireworks of the first two days make it clear to all that investors’ thirst for bonds remains exceptional.

  • By Jon Hay
  • 21 Mar 2019

Abertis’s four tranche issue of €2.6bn and £400m on Monday was swamped with about €14.5bn of demand — Schaeffler’s €2.2bn three-parter on Tuesday got €19bn.

It left bankers struggling for words, and struggling to understand the source of the wave. On both those deals investors on the week-long ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 44,483.98 215 5.61%
2 Citi 42,089.67 200 5.30%
3 Bank of America Merrill Lynch 40,301.63 198 5.08%
4 Barclays 36,562.85 154 4.61%
5 Deutsche Bank 31,434.19 150 3.96%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 12,052.82 29 9.24%
2 SG Corporate & Investment Banking 9,231.34 34 7.08%
3 Deutsche Bank 8,994.55 41 6.90%
4 Bank of America Merrill Lynch 8,791.13 27 6.74%
5 BNP Paribas 8,267.11 42 6.34%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 1,686.47 13 9.63%
2 BNP Paribas 1,305.75 15 7.46%
3 Deutsche Bank 1,263.77 9 7.22%
4 Goldman Sachs 1,225.64 11 7.00%
5 Citi 1,134.67 10 6.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 9,841.58 73 10.52%
2 Citi 9,459.24 67 10.12%
3 Bank of America Merrill Lynch 6,345.97 49 6.79%
4 Goldman Sachs 6,080.77 44 6.50%
5 Morgan Stanley 5,699.31 38 6.09%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 8,582.70 34 5.47%
2 Citi 8,191.99 30 5.22%
3 Barclays 7,869.78 33 5.01%
4 BNP Paribas 7,833.50 40 4.99%
5 JPMorgan 7,498.03 29 4.78%