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 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%