RCI cuts lone figure in barren corporate market

A severe lack of high grade borrowers needing and willing to issue led to a near-barren week for primary deals in Europe’s corporate bond market, as bankers predicted this hiatus was now set to last until September. Only RCI Banque, Renault’s funding arm, took advantage of a lack of competing supply to increase its Eu500m 4% 2013 issue printed in mid-June.

  • 23 Jul 2010
The tap, priced on Wednesday, pumped up the size of that bond to Eu675m. BNP Paribas, Citi and HSBC led the deal, which was printed at 215bp over mid-swaps. This was a big improvement on where RCI’s issue has initially been priced, at 253bp over. The deal has ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 31,253.42 150 5.58%
2 JPMorgan 30,258.10 154 5.41%
3 Bank of America Merrill Lynch 29,583.77 143 5.29%
4 Barclays 29,432.52 110 5.26%
5 Deutsche Bank 25,814.34 115 4.61%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 10,392.67 24 9.97%
2 Bank of America Merrill Lynch 8,134.48 23 7.80%
3 Deutsche Bank 7,164.21 34 6.87%
4 SG Corporate & Investment Banking 6,754.28 23 6.48%
5 Santander 5,833.12 20 5.60%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 849.80 7 9.30%
2 JPMorgan 703.06 6 7.69%
3 Deutsche Bank 636.38 4 6.97%
4 BNP Paribas 604.64 5 6.62%
5 Goldman Sachs 489.41 4 5.36%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 7,635.83 50 10.94%
2 JPMorgan 6,495.29 50 9.30%
3 Bank of America Merrill Lynch 5,031.63 36 7.21%
4 Goldman Sachs 4,767.07 33 6.83%
5 Credit Suisse 4,456.07 30 6.38%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 6,819.64 26 5.60%
2 Citi 6,495.20 21 5.34%
3 SG Corporate & Investment Banking 6,428.97 23 5.28%
4 JPMorgan 6,113.92 21 5.02%
5 Deutsche Bank 6,075.14 29 4.99%