Triple deal blowout drives high yield boom

The strength of Europe’s high yield market was showcased this week when Swissport, Fresenius Medical Care and Priory Group priced blowout deals. And the trend is unlikely to relent in the near future, said bankers.

  • 28 Jan 2011
Investors’ desire for yield at a time when coupons on investment grade bonds are at all-time lows has played into the hands of high yield issuers. "The bid is incredibly strong right now," said a senior junk bond syndicate banker in London. "It doesn’t look like it’ll weaken ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 4,897.24 25 6.92%
2 HSBC 4,323.95 26 6.11%
3 Citi 4,027.50 29 5.69%
4 Morgan Stanley 3,888.93 18 5.50%
5 BNP Paribas 3,721.14 15 5.26%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,322.28 8 5.49%
2 UniCredit 1,892.23 6 4.47%
3 Bank of America Merrill Lynch 1,585.30 5 3.75%
4 ING 1,477.05 5 3.49%
5 Mitsubishi UFJ Financial Group 1,455.84 5 3.44%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 327.97 2 10.84%
2 JPMorgan 315.65 2 10.43%
2 Goldman Sachs 315.65 2 10.43%
4 Citi 266.00 2 8.79%
5 Bank of America Merrill Lynch 226.61 2 7.49%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,186.24 9 8.93%
2 Bank of America Merrill Lynch 1,144.99 10 8.62%
3 Morgan Stanley 1,069.11 7 8.05%
4 JPMorgan 1,064.38 8 8.01%
5 Wells Fargo Securities 882.72 7 6.65%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,322.28 8 5.12%
2 UniCredit 1,892.23 6 4.17%
3 Bank of America Merrill Lynch 1,585.30 5 3.49%
4 ING 1,477.05 5 3.25%
5 Mitsubishi UFJ Financial Group 1,455.84 5 3.21%