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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1 JPMorgan 125,350.32 549 5.93%
2 Bank of America Merrill Lynch 122,750.63 519 5.81%
3 Citi 101,738.87 533 4.81%
4 Barclays 84,126.63 341 3.98%
5 Goldman Sachs 83,290.95 322 3.94%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 28,401.19 124 8.95%
2 Deutsche Bank 22,113.09 83 6.97%
3 SG Corporate & Investment Banking 20,911.95 99 6.59%
4 UniCredit 17,032.03 79 5.37%
5 HSBC 16,474.81 91 5.19%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Goldman Sachs 5,527.11 43 7.83%
2 BNP Paribas 4,918.81 57 6.97%
3 Deutsche Bank 4,372.15 44 6.19%
4 JPMorgan 3,977.60 45 5.64%
5 Credit Suisse 3,757.05 40 5.32%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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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 28,288.85 117 5.99%
2 BNP Paribas 27,457.09 117 5.81%
3 Barclays 26,271.31 92 5.56%
4 JPMorgan 26,099.31 90 5.52%
5 Deutsche Bank 24,766.67 100 5.24%