Investors unfazed by ‘pure Italy risk’ in peripheral Europe corporate rally

The recovery of Europe’s credit appetite forged ahead this week as several southern European borrowers found rampant demand for their bond issues and new issue premiums for many kinds of borrower tightened.

  • 03 Feb 2012

On Thursday the bull run passed an important milestone, with a highly successful €1bn seven year bond by Atlantia, the Italian toll road company. Unlike most peripheral issuers in recent months, Atlantia’s revenues come almost entirely from its home country.

"It’s the first deal offering pure Italy risk," ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 173,212.52 757 7.17%
2 Bank of America Merrill Lynch 153,744.23 709 6.37%
3 Citi 136,722.26 732 5.66%
4 Goldman Sachs 109,440.99 472 4.53%
5 Barclays 105,316.67 480 4.36%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 29,965.54 145 8.68%
2 Barclays 25,184.66 104 7.29%
3 Deutsche Bank 24,247.02 105 7.02%
4 SG Corporate & Investment Banking 20,544.30 110 5.95%
5 HSBC 19,467.45 94 5.64%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,469.76 69 4.02%
2 Goldman Sachs 7,816.84 63 3.71%
3 Credit Suisse 6,908.88 70 3.28%
4 Deutsche Bank 6,384.59 62 3.03%
5 BNP Paribas 5,941.97 66 2.82%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 36,690.71 286 10.74%
2 Citi 28,630.88 229 8.38%
3 Bank of America Merrill Lynch 28,330.35 247 8.30%
4 Goldman Sachs 24,712.66 181 7.24%
5 Barclays 22,931.34 152 6.71%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 28,087.32 104 6.41%
2 BNP Paribas 27,948.80 144 6.38%
3 Barclays 27,400.32 128 6.25%
4 HSBC 25,832.31 126 5.90%
5 Citi 23,312.66 103 5.32%