Cisco leads US charge to lock in 30 year rates

Investment grade US companies issued $5bn of long dated paper this week, as a total of $20bn of new issues hit the market, with borrowers rushing to lock in historically low interest rates before year-end.

  • 13 Nov 2009

Almost all the deals were significantly oversubscribed, highlighting how investors are eager to own investment grade bonds even at low yields and thin concessions relative to secondaries.

On average, the week’s new issues tightened by 5bp-10bp on the break on thin volumes, as most of the bonds were snapped ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 29,905.36 142 5.76%
2 JPMorgan 29,298.88 144 5.65%
3 Barclays 28,947.43 106 5.58%
4 Bank of America Merrill Lynch 28,642.89 136 5.52%
5 Deutsche Bank 24,308.16 108 4.68%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 10,296.75 23 10.68%
2 Bank of America Merrill Lynch 7,861.19 21 8.15%
3 Deutsche Bank 6,720.85 31 6.97%
4 SG Corporate & Investment Banking 6,134.64 22 6.36%
5 Santander 5,655.75 19 5.87%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 799.80 6 9.13%
2 Deutsche Bank 710.75 5 8.11%
3 JPMorgan 703.06 6 8.02%
4 BNP Paribas 554.64 4 6.33%
5 Goldman Sachs 489.41 4 5.59%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 7,171.24 46 11.03%
2 JPMorgan 6,006.43 44 9.24%
3 Bank of America Merrill Lynch 4,911.63 35 7.55%
4 Goldman Sachs 4,632.90 32 7.13%
5 Credit Suisse 4,261.07 28 6.55%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 6,504.27 23 5.81%
2 JPMorgan 5,936.55 20 5.30%
3 SG Corporate & Investment Banking 5,755.14 21 5.14%
4 Citi 5,698.20 19 5.09%
5 Deutsche Bank 5,631.78 26 5.03%