High yield bonds relegate lev loans in fourth quarter

Global corporate high yield bond sales have outperformed corporate leveraged loans for the first time on record this quarter, with $51.8bn global high yield issuance so far — $1.6bn more than leveraged loan volumes for the quarter, according to Dealogic.

  • 27 Nov 2009

The closest that bonds have come to loans was in the first quarter of 1996, when leveraged loan sales totalled $23.8bn more than high yield bond. However, at $326.9bn year to date compared with $190.9bn for bonds, loans will still be on top for the year overall.

Bonds have ...

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.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 117,261.12 337 11.07%
2 Bank of America Merrill Lynch 94,721.79 272 8.94%
3 JPMorgan 92,612.23 269 8.74%
4 Wells Fargo Securities 82,597.19 239 7.80%
5 Credit Suisse 69,442.99 183 6.55%