Volvo joins floater craze with €300m three year through curve

Volvo joined Scania and Volkswagen Bank in issuing euro floating rate notes today, tapping into one of the most noticeable and widely debated trends in Europe’s corporate bond market this spring.

  • 07 May 2013

Danske Bank and Société Générale had been pitching the Baa2/BBB rated truck and bus maker the idea of a floating rate euro issue, but had little warning for the deal, receiving the mandate this morning.

The €300m will-not-grow three year issue suffered nothing by the short notice. Put on ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 5,647.81 35 5.99%
2 Morgan Stanley 5,361.15 32 5.69%
3 Citi 5,164.93 39 5.48%
4 HSBC 4,900.29 32 5.20%
5 BNP Paribas 4,712.84 24 5.00%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 BNP Paribas 2,424.26 9 10.57%
2 UniCredit 1,892.23 6 8.25%
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4 Mitsubishi UFJ Financial Group 1,577.41 6 6.88%
5 ING 1,477.05 5 6.44%

Bookrunners of European HY Bonds

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1 BNP Paribas 472.73 3 8.70%
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Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 1,942.03 15 9.59%
2 Bank of America Merrill Lynch 1,559.21 15 7.70%
3 Wells Fargo Securities 1,535.51 14 7.58%
4 JPMorgan 1,388.05 13 6.85%
5 Morgan Stanley 1,381.20 11 6.82%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 BNP Paribas 2,459.18 9 9.92%
2 UniCredit 1,892.23 6 7.63%
3 Bank of America Merrill Lynch 1,585.30 5 6.39%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.36%
5 ING 1,477.05 5 5.96%