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 ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 53,309.01 260 5.44%
2 JPMorgan 52,801.34 266 5.39%
3 Bank of America Merrill Lynch 49,055.75 248 5.00%
4 Barclays 46,218.62 191 4.72%
5 Deutsche Bank 38,030.40 188 3.88%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 13,811.36 35 9.04%
2 Deutsche Bank 9,981.06 50 6.53%
3 SG Corporate & Investment Banking 9,691.46 38 6.34%
4 BNP Paribas 9,682.74 53 6.34%
5 Citi 9,642.83 43 6.31%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,271.07 14 7.96%
2 JPMorgan 2,260.62 16 7.93%
3 BNP Paribas 2,167.79 20 7.60%
4 Citi 1,935.99 15 6.79%
5 Goldman Sachs 1,890.62 15 6.63%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 12,355.10 94 10.25%
2 Citi 11,234.36 86 9.32%
3 Goldman Sachs 8,483.82 60 7.04%
4 Bank of America Merrill Lynch 8,389.21 68 6.96%
5 Morgan Stanley 7,524.77 55 6.24%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 9,829.57 39 5.56%
2 SG Corporate & Investment Banking 9,247.20 39 5.23%
3 BNP Paribas 8,968.95 50 5.07%
4 Barclays 8,821.97 38 4.99%
5 Deutsche Bank 8,284.69 47 4.68%