Corporate bond investors ignore trade fears to gobble deal binge

European corporate bond investors showed they were hungry for paper on Thursday, despite the gloom infecting equity markets this week about the prospect of a restart to the China-US trade war. A flurry of issuers came to the market, hot from roadshows, and got plenty of over-subscription while slashing their spreads by 20bp to 30bp.

  • By Alex Radford
  • 09 May 2019
“People have potentially over valued or over-estimated the slightly negative tone we have seen on screens in the past few days,” said a syndicate banker. “That’s understandable, given we've had a few holiday periods. We've had the unwind of the potentially more positive direction of travel in the ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 76,422.10 393 5.65%
2 Citi 69,820.62 374 5.16%
3 Bank of America Merrill Lynch 68,977.76 371 5.10%
4 Barclays 60,886.09 267 4.50%
5 Goldman Sachs 51,728.88 254 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 8.71%
2 BNP Paribas 15,885.30 90 6.86%
3 SG Corporate & Investment Banking 14,134.52 61 6.10%
4 Bank of America Merrill Lynch 14,105.99 45 6.09%
5 Deutsche Bank 13,105.24 66 5.66%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,970.40 18 7.52%
2 Citi 2,783.23 20 7.04%
3 JPMorgan 2,762.43 21 6.99%
4 BNP Paribas 2,674.33 25 6.77%
5 Goldman Sachs 2,523.29 20 6.39%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,336.99 132 10.02%
2 Citi 14,877.45 125 9.13%
3 Bank of America Merrill Lynch 12,173.13 103 7.47%
4 Goldman Sachs 12,028.93 93 7.38%
5 Morgan Stanley 9,577.47 74 5.87%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 15,424.27 88 5.81%
2 SG Corporate & Investment Banking 13,698.52 64 5.16%
3 Barclays 13,517.08 57 5.09%
4 JPMorgan 13,358.35 58 5.03%
5 Citi 13,042.23 59 4.91%