HY default rate will fall this year, rise next – Moody’s

The global corporate default rate for speculative grade issuers edged 10bp higher to 1.9% in October, according to Moody’s. This is far below last year’s global rate of 3.8% in October. For the end of the year Moody’s forecasts another fall to 1.4%.

  • 08 Nov 2011
October’s slightly higher rate reflects the defaults of Greek glass maker Yioula Glassworks and three companies in Ireland which have conducted distressed exchanges on their junior debt only. These defaults occurred some time ago, but in September were included in the investment grade default count. Their senior ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 98,633.09 448 5.86%
2 Bank of America Merrill Lynch 98,115.24 430 5.83%
3 Citi 83,365.80 436 4.95%
4 Barclays 72,485.68 284 4.30%
5 Goldman Sachs 67,421.03 263 4.00%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 21,838.84 99 8.78%
2 Deutsche Bank 18,365.60 68 7.38%
3 SG Corporate & Investment Banking 17,285.72 80 6.95%
4 UniCredit 14,616.54 67 5.88%
5 HSBC 12,627.71 70 5.08%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 4,096.77 49 6.96%
2 Deutsche Bank 3,839.34 38 6.52%
3 Goldman Sachs 3,623.05 30 6.16%
4 JPMorgan 3,599.75 39 6.12%
5 Credit Suisse 3,366.63 35 5.72%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,476.08 137 10.00%
2 Credit Suisse 12,881.03 89 7.37%
3 Goldman Sachs 12,373.76 90 7.08%
4 Citi 12,061.47 102 6.90%
5 Bank of America Merrill Lynch 11,966.50 108 6.84%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 24,012.60 99 6.17%
2 BNP Paribas 22,470.95 95 5.77%
3 Barclays 22,422.61 75 5.76%
4 Citi 21,095.98 83 5.42%
5 Deutsche Bank 21,068.78 84 5.41%