Investors ready to flock to Towergate’s HY debut

UK insurance intermediary Towergate is set to price a £520m debut high yield bond on Friday, which investors expect to be heavily oversubscribed.

  • 04 Feb 2011

The deal will be only the second European junk bond of the week, following Irish packaging firm Ardagh Group’s Eu200m tap on Tuesday.

"High yield supply just isn’t keeping up with demand," said an investor in London. "This week’s been especially light. There’s no issuer in the immediate pipeline, ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 64,325.57 311 5.96%
2 Bank of America Merrill Lynch 62,435.53 301 5.79%
3 Citi 50,207.52 296 4.65%
4 Barclays 48,982.42 189 4.54%
5 Goldman Sachs 45,814.69 180 4.25%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 14,879.05 62 9.22%
2 SG Corporate & Investment Banking 11,949.59 52 7.41%
3 Deutsche Bank 11,409.70 49 7.07%
4 Goldman Sachs 10,070.57 26 6.24%
5 JPMorgan 9,535.19 43 5.91%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3,112.58 35 7.79%
2 JPMorgan 2,667.48 29 6.68%
3 Credit Suisse 2,291.44 22 5.74%
4 Goldman Sachs 2,130.55 21 5.34%
5 Deutsche Bank 1,993.88 21 4.99%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 12,362.60 98 9.90%
2 Citi 9,045.27 76 7.24%
3 Barclays 8,801.09 64 7.05%
4 Bank of America Merrill Lynch 8,770.59 82 7.02%
5 Goldman Sachs 8,019.67 66 6.42%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 14,396.56 66 6.12%
2 BNP Paribas 13,877.33 58 5.90%
3 Barclays 13,298.05 41 5.65%
4 JPMorgan 13,217.04 47 5.62%
5 Deutsche Bank 13,176.50 54 5.60%