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Go to Asia edition

Glaxo drinks deep with $9bn bond as US brims with cash

It was another $30bn week in the all-guns-blazing US investment grade bond market, but the clear star of the show was the $9bn four tranche offering for UK pharmaceutical firm GlaxoSmithKline, which pulled a staggering $17.8bn of orders.

  • 09 May 2008

 

Launched to fund a share buyback programme, the deal broke several US dollar high grade records.

It was the largest corporate Yankee issue since British Telecom in 2000; the biggest corporate bond since WorldCom in 2001; and the largest ever corporate issue outside the telecom ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 91,192.05 449 5.83%
2 Citi 83,372.35 426 5.33%
3 Bank of America Merrill Lynch 80,651.89 414 5.15%
4 Barclays 72,018.88 306 4.60%
5 Goldman Sachs 59,875.46 292 3.83%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Barclays 20,638.21 54 8.44%
2 BNP Paribas 16,514.56 94 6.75%
3 Deutsche Bank 15,422.56 75 6.30%
4 SG Corporate & Investment Banking 15,340.46 67 6.27%
5 Bank of America Merrill Lynch 14,105.99 45 5.77%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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  • Last updated
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1 Citi 4,728.01 24 9.17%
2 JPMorgan 3,649.83 29 7.08%
3 Deutsche Bank 3,638.27 22 7.06%
4 Barclays 3,441.80 22 6.68%
5 Goldman Sachs 3,389.62 26 6.58%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
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1 Citi 18,847.11 143 9.46%
2 JPMorgan 18,162.36 146 9.11%
3 Goldman Sachs 14,831.56 109 7.44%
4 Bank of America Merrill Lynch 14,255.85 117 7.15%
5 Morgan Stanley 12,912.93 86 6.48%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 BNP Paribas 16,573.16 92 5.72%
2 SG Corporate & Investment Banking 15,343.03 70 5.29%
3 Barclays 15,274.25 63 5.27%
4 JPMorgan 15,018.24 65 5.18%
5 Citi 14,456.99 66 4.99%