Good results from Fiat, Ono – trouble at Peugeot and Matalan

Several European high yield bond issuers have reported results, giving investors some fresh data in re-evaluating their portfolios. They include Spanish telecoms company Ono and Italian carmaker Fiat, reporting second quarter figures.

  • 27 Jul 2011

Bonds of both Ono (rated B2/B) and Fiat (Ba1/BB/BB+) have fallen in the last few weeks, due to investor concerns over the debt crisis in southern Europe.

“You unfortunately always have a correlation between country risk and a company, which sits in this country,” said a high yield investor ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 126,008.43 551 5.85%
2 Bank of America Merrill Lynch 125,005.79 533 5.81%
3 Citi 102,522.76 538 4.76%
4 Barclays 84,236.96 343 3.91%
5 Goldman Sachs 83,509.37 327 3.88%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 28,066.59 123 8.86%
2 Deutsche Bank 22,255.37 84 7.03%
3 SG Corporate & Investment Banking 20,558.20 98 6.49%
4 UniCredit 17,012.87 79 5.37%
5 HSBC 16,282.49 91 5.14%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,527.11 43 7.80%
2 BNP Paribas 4,918.81 57 6.94%
3 Deutsche Bank 4,372.15 44 6.17%
4 JPMorgan 4,226.28 46 5.96%
5 Credit Suisse 3,757.05 40 5.30%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,901.51 153 10.02%
2 Goldman Sachs 14,830.49 106 7.47%
3 Credit Suisse 13,745.94 98 6.92%
4 Bank of America Merrill Lynch 13,267.41 122 6.68%
5 Morgan Stanley 12,977.13 92 6.53%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 27,454.25 115 5.77%
2 BNP Paribas 27,238.89 117 5.72%
3 JPMorgan 26,285.83 90 5.52%
4 Barclays 26,223.41 92 5.51%
5 Deutsche Bank 24,766.67 100 5.20%