Eurochem launches $750m 2017s; could signal return of second tier names

Russian fertiliser company Eurochem has launched its $750m five year bond at 5.125%, the tight end of 5.375% yield area price guidance. One analyst in London said that if the note traded well, it could encourage the return of a large swathe of other second tier Russian corporates to the Eurobond market.

  • 05 Dec 2012

The deal from Eurochem is the company’s first since 2007, a time when a large number of companies turned to the dollar market because of the cheaper cost of funds versus the rouble domestic market.

Since 2009 Russian authorities have encouraged their corporates to borrow in the local market ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 174,796.79 765 7.14%
2 Bank of America Merrill Lynch 155,804.72 719 6.36%
3 Citi 137,825.04 739 5.63%
4 Goldman Sachs 110,240.40 478 4.50%
5 Barclays 106,582.38 490 4.35%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 29,965.54 145 8.64%
2 Barclays 25,510.29 106 7.35%
3 Deutsche Bank 24,247.02 105 6.99%
4 SG Corporate & Investment Banking 21,202.74 113 6.11%
5 HSBC 19,467.45 94 5.61%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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  • Today
1 JPMorgan 8,469.76 69 8.01%
2 Goldman Sachs 8,116.84 64 7.68%
3 Credit Suisse 6,908.88 70 6.54%
4 Deutsche Bank 6,384.59 62 6.04%
5 BNP Paribas 5,941.97 66 5.62%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 37,132.38 289 10.76%
2 Citi 28,905.88 231 8.38%
3 Bank of America Merrill Lynch 28,846.52 251 8.36%
4 Goldman Sachs 24,953.24 183 7.23%
5 Barclays 23,148.60 155 6.71%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 28,102.94 134 6.34%
2 Deutsche Bank 28,087.32 104 6.33%
3 BNP Paribas 27,948.80 144 6.30%
4 HSBC 25,973.95 128 5.86%
5 Citi 23,312.66 103 5.26%