BASF, Eandis, Nestlé win solid books as strong week starts

BASF, the German speciality chemicals company, returned to the euro bond market on Monday, two months after its last deal, but far from putting investors off, this new supply of its credit was welcomed as investors fed their craving for investment grade credit.

  • 30 Nov 2012

The A1/A+ stably rated company is a favourite with investors, especially in Germany, and home demand was so keen that it dominated the book.

On September 24 the company had sold a €750m six year bond at 45bp over mid-swaps, with a book of nearly €2bn.

This time, there ...

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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%
3 Bank of America Merrill Lynch 1,585.30 5 6.91%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.88%
5 ING 1,477.05 5 6.44%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 BNP Paribas 472.73 3 8.70%
2 Goldman Sachs 460.40 3 8.48%
3 Credit Suisse 417.53 4 7.69%
4 Barclays 413.98 4 7.62%
5 Credit Agricole CIB 353.26 2 6.50%

Bookrunners of Dollar Denominated HY Bonds

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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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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%