Small retail-backed deals brave jittery market

Two high yield issuers in the German-speaking countries braved the volatile market with small deals this week. Germany’s Maschinenfabrik Spaichingen is ready to open books next week, while Austria’s Wienerberger has already printed Eu100m.

  • 23 Jun 2011

The Markit iTraxx Crossover index again jumped to an intraday high of 426bp on Thursday, as concerns over Greece failed to ease away, leaving the primary European high yield market quiet.

However, Maschinenfabrik Spaichingen plans to raise up to Eu30m through a five year bond via Close Brothers Seydler. ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 18,065.90 76 7.04%
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4 Deutsche Bank 13,703.65 55 5.34%
5 Goldman Sachs 12,468.02 53 4.86%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 SG Corporate & Investment Banking 4,045.97 15 8.01%
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4 Barclays 3,308.76 11 6.55%
5 Credit Agricole CIB 3,046.24 15 6.03%

Bookrunners of European HY Bonds

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Bookrunners of Dollar Denominated HY Bonds

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1 Citi 3,219.24 22 10.20%
2 JPMorgan 2,544.70 20 8.06%
3 Credit Suisse 2,364.95 15 7.49%
4 Goldman Sachs 2,331.78 17 7.39%
5 Barclays 2,307.33 19 7.31%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Barclays 4,228.88 14 6.59%
2 Citi 4,092.60 11 6.38%
3 SG Corporate & Investment Banking 3,771.05 15 5.88%
4 Deutsche Bank 3,663.73 11 5.71%
5 Bank of America Merrill Lynch 3,179.12 11 4.95%