Rallying market brings clutch of HY trades

After Monday’s partial holiday across Europe, strong market conditions gave several high yield issuers confidence to press ahead with new issues on Tuesday. The new issue pipeline cuts across credit quality and use of proceeds, giving investors options from IG-style refis to single-B M&A trades.

  • By Owen Sanderson
  • 11 Jun 2019

The crossover index tightened more than nine points on Monday, while equities were up as well, despite some weak European data.

This led five high yield issuers to step ahead with capital markets financing projects, ranging from long-anticipated M&A issues, such as that from Italian generic pharmaceuticals firm ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 7,151.10 53 6.42%
2 Deutsche Bank 6,886.84 39 6.18%
3 Goldman Sachs 6,877.67 36 6.18%
4 Credit Agricole CIB 6,659.77 36 5.98%
5 Barclays 6,209.03 28 5.58%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 4,728.01 24 9.17%
2 JPMorgan 3,649.83 29 7.08%
3 Deutsche Bank 3,638.27 22 7.05%
4 Barclays 3,441.80 22 6.67%
5 Goldman Sachs 3,389.62 26 6.57%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 18,847.11 143 9.44%
2 JPMorgan 18,279.02 147 9.16%
3 Goldman Sachs 14,831.56 109 7.43%
4 Bank of America Merrill Lynch 14,255.85 117 7.14%
5 Morgan Stanley 12,912.93 86 6.47%