Bank of England props bond mart with £88m APF auction

The Bank of England moved to bolster the weakening secondary sterling bond market this week, staging the largest corporate bond auction through its asset purchase facility (APF) since last October — over seven times the volume it bought last week. The facility attracted offers of £276m, of which the central bank accepted £87.89m.

  • 28 May 2010

Many market players viewed the purchases as vindicating the central bank’s APF programme. "The Bank would have been underwater with these positions on Wednesday, but with the rally should have been back in the money by Thursday," said one corporate bonds banker.

Some thought that the scheme could ...

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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%