High yield issuers not bothered by chill in the air

Softness in risk asset markets has not choked off the flow of new high yield issues in Europe, though there are no investment grade new issues on Wednesday, a French holiday. Virgin Media is holding investor calls today for a new $825m and £300m senior secured issue, rated Ba3/BB-/BB+.

  • By Alex Radford, Jon Hay
  • 08 May 2019

That is despite a 12bp widening yesterday of the iTraxx Crossover index, to 265bp, according to Lucror Analytics, and steep falls in US equities after President Donald Trump escalated his trade war rhetoric against China.

“Yesterday was a little weaker in terms of the overall sentiment,” said an ...

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 JPMorgan 77,552.24 398 5.62%
2 Citi 70,717.52 380 5.13%
3 Bank of America Merrill Lynch 69,588.78 376 5.05%
4 Barclays 61,172.01 270 4.44%
5 Goldman Sachs 52,725.73 259 3.82%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 20,165.66 52 8.64%
2 BNP Paribas 16,075.93 92 6.89%
3 SG Corporate & Investment Banking 14,325.15 63 6.14%
4 Bank of America Merrill Lynch 14,105.99 45 6.05%
5 Deutsche Bank 13,139.03 67 5.63%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,970.40 18 7.27%
2 JPMorgan 2,822.43 22 6.91%
3 Citi 2,783.23 20 6.81%
4 BNP Paribas 2,674.33 25 6.55%
5 Goldman Sachs 2,523.29 20 6.18%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,093.24 135 10.06%
2 Citi 15,359.69 127 9.04%
3 Bank of America Merrill Lynch 12,650.81 105 7.45%
4 Goldman Sachs 12,435.18 94 7.32%
5 Morgan Stanley 9,748.90 76 5.74%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 15,614.90 90 5.82%
2 SG Corporate & Investment Banking 13,889.15 66 5.18%
3 Barclays 13,651.30 58 5.09%
4 JPMorgan 13,469.46 59 5.02%
5 Citi 13,203.46 60 4.92%