Market braced for dollar bond rush from India

Bank of Baroda, Canara Bank and Indian Overseas Bank are considering issuing US dollar denominated bonds following Syndicate Bank’s roadshow announcement on Monday. Global sentiment on Indian bank credit is improving and deals would be received well, bankers told EuroWeek Asia’s sister publication Asiamoney.

  • 24 May 2013

Syndicate Bank will meet investors in Singapore and Hong Kong this week and London next week, with a view to issuing a Reg S, US dollar bond. The Indian lender has hired Citi, Deutsche Bank, HSBC, JP Morgan and Standard Chartered for the roadshow.

On Thursday, Canara said it ...

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All Corporate Bonds

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1 JPMorgan 92,205.01 454 5.85%
2 Citi 83,869.46 429 5.32%
3 Bank of America Merrill Lynch 81,470.18 417 5.17%
4 Barclays 72,554.64 309 4.60%
5 Goldman Sachs 60,232.09 293 3.82%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 Barclays 20,638.21 54 8.44%
2 BNP Paribas 16,514.56 94 6.75%
3 Deutsche Bank 15,422.56 75 6.30%
4 SG Corporate & Investment Banking 15,340.46 67 6.27%
5 Bank of America Merrill Lynch 14,105.99 45 5.77%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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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 %
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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%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 16,573.16 92 5.71%
2 SG Corporate & Investment Banking 15,343.03 70 5.29%
3 Barclays 15,274.25 63 5.26%
4 JPMorgan 15,018.24 65 5.18%
5 Citi 14,456.99 66 4.98%