Record year for Schuldschein market a ‘near-certainty’

Volumes in other syndicated loan markets may be down, but bankers in the Schuldschein market have rather more to crow about. Derided though it may be for being antique and parochial, it has nonetheless managed to attract an impressive number of debut entrants this year and is set to break the record volumes of 2017.

  • By Silas Brown
  • 05 Sep 2019

According to UniCredit, €20.9bn of Schuldscheine have been placed this year across 117 transactions. This is at least €3bn more than had been done by this stage last year. The annual record of  €28bn was set in 2017.

“The market has managed to swallow a high variety of ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 109,590.02 545 5.98%
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4 Barclays 84,564.14 361 4.61%
5 Goldman Sachs 72,463.15 353 3.95%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 Barclays 25,216.98 68 8.07%
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3 Deutsche Bank 19,476.33 91 6.24%
4 SG Corporate & Investment Banking 18,780.78 83 6.01%
5 Bank of America Merrill Lynch 18,365.62 60 5.88%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Citi 5,481.64 30 9.16%
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4 Goldman Sachs 4,037.77 30 6.75%
5 Barclays 3,944.19 26 6.59%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 21,330.12 176 9.55%
2 Citi 20,413.19 159 9.14%
3 Goldman Sachs 16,673.77 129 7.47%
4 Bank of America Merrill Lynch 15,858.61 138 7.10%
5 Morgan Stanley 14,415.14 99 6.46%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 21,308.48 122 5.93%
2 Barclays 19,922.32 79 5.54%
3 JPMorgan 18,851.59 86 5.24%
4 SG Corporate & Investment Banking 18,623.31 86 5.18%
5 Citi 18,190.86 90 5.06%