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 JPMorgan 118,085.91 526 6.01%
2 Bank of America Merrill Lynch 116,452.88 500 5.92%
3 Citi 95,224.41 500 4.84%
4 Barclays 79,480.05 326 4.04%
5 Goldman Sachs 78,962.08 310 4.02%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 25,490.13 116 8.72%
2 Deutsche Bank 20,970.97 79 7.17%
3 SG Corporate & Investment Banking 19,456.63 93 6.66%
4 HSBC 16,015.57 89 5.48%
5 UniCredit 15,628.90 72 5.35%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Goldman Sachs 5,260.19 41 7.67%
2 BNP Paribas 4,918.81 57 7.17%
3 Deutsche Bank 4,345.09 43 6.34%
4 JPMorgan 3,806.54 43 5.55%
5 Credit Suisse 3,757.05 40 5.48%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 20,123.74 153 10.30%
2 Goldman Sachs 15,830.49 107 8.10%
3 Credit Suisse 13,243.20 94 6.78%
4 Bank of America Merrill Lynch 13,201.57 121 6.75%
5 Citi 12,928.46 108 6.61%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 28,041.31 115 6.25%
2 Barclays 25,736.30 90 5.74%
3 BNP Paribas 25,394.40 111 5.66%
4 JPMorgan 25,259.22 83 5.63%
5 Citi 24,204.97 95 5.39%