Carnival in Brazilian HY as jumbos abound

Latin American sub-investment grade companies are capitalising on a hunger for higher yielding paper following a rally in secondary prices, with market participants saying it is easier than ever for LatAm borrowers to make international debuts.

  • 18 Jan 2013

As if to prove the point, Brazilian high yield cattle products company Minerva priced $850m of 2023 bonds on Thursday after attracting a $6.5bn book for the new deal, which is part of a liability management exercise.

On Wednesday, Brazilian meatpacker Marfrig (B2/B) had doubled the size of its ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 6,725.43 38 5.92%
2 Bank of America Merrill Lynch 5,845.88 38 5.15%
3 Citi 5,616.32 43 4.94%
4 HSBC 5,284.41 37 4.65%
5 BNP Paribas 5,219.36 29 4.59%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,505.33 10 10.40%
2 UniCredit 1,973.31 7 8.19%
3 Bank of America Merrill Lynch 1,666.37 6 6.91%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.55%
5 ING 1,477.05 5 6.13%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 553.99 4 8.64%
2 Credit Suisse 511.12 5 7.97%
3 BNP Paribas 472.73 3 7.37%
4 Barclays 413.98 4 6.46%
5 JPMorgan 409.23 3 6.38%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 2,178.82 15 9.04%
2 Citi 2,162.31 17 8.97%
3 Morgan Stanley 2,088.85 13 8.66%
4 Bank of America Merrill Lynch 1,613.71 16 6.69%
5 Deutsche Bank 1,550.60 9 6.43%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,459.18 9 9.61%
2 UniCredit 1,892.23 6 7.39%
3 Bank of America Merrill Lynch 1,585.30 5 6.20%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.16%
5 ING 1,477.05 5 5.77%