Sanofi seeks tightness, gets size too at €1bn

Book sizes for the four highly rated corporate bonds issued on Wednesday were mostly moderate, but there was one exception — Sanofi, the French pharmaceuticals group. Despite its tight spread, the deal drew €3bn of orders.

  • By Jon Hay
  • 08 Nov 2013

Rated A1/AA, Sanofi is an infrequent issuer, often taking funding in dollars when it can do so more cheaply. But the €1bn 10 year issue was a straight-down-the-line transaction, right into the heart of Europe’s rampant institutional investor demand.

Citigroup, HSBC, Royal Bank of Scotland and Santander led ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 100,058.86 456 5.85%
2 Bank of America Merrill Lynch 99,628.65 440 5.82%
3 Citi 84,614.01 445 4.95%
4 Barclays 73,491.09 292 4.30%
5 Goldman Sachs 67,826.41 266 3.96%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 22,159.94 102 8.72%
2 Deutsche Bank 18,488.07 69 7.28%
3 SG Corporate & Investment Banking 17,591.36 83 6.92%
4 UniCredit 14,705.77 69 5.79%
5 HSBC 12,989.38 73 5.11%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 4,293.59 52 7.09%
2 Deutsche Bank 3,871.16 39 6.39%
3 Goldman Sachs 3,757.37 32 6.20%
4 JPMorgan 3,631.57 40 6.00%
5 Credit Suisse 3,406.43 36 5.63%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,788.58 138 10.01%
2 Credit Suisse 12,936.58 90 7.28%
3 Goldman Sachs 12,741.82 92 7.17%
4 Bank of America Merrill Lynch 12,121.10 110 6.82%
5 Citi 12,061.47 102 6.79%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 24,374.27 102 6.18%
2 BNP Paribas 22,870.75 99 5.79%
3 Barclays 22,868.06 79 5.79%
4 Deutsche Bank 21,191.25 85 5.37%
5 Citi 21,179.37 84 5.37%