HeidelbergCement’s shaky BBB perfect to reopen corporate bonds

European corporate bond investors, lying in wait since the beginning of this year and deprived of anything juicier than GE Capital bonds, saw a rich prize coming this week and pounced, squeezing cash-hungry HeidelbergCement for an 85bp pick-up over credit default swaps and coupon protection against a downgrade.

  • 18 Jan 2008

Any suggestion that investors were not willing to play was dashed when 125 institutions joined a conference call on Thursday morning, held by lead managers Deutsche Bank and Royal Bank of Scotland when they announced the Eu1bn four year deal.

No matter that the market was going through a ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 175,104.29 767 7.13%
2 Bank of America Merrill Lynch 156,319.43 723 6.36%
3 Citi 138,033.99 742 5.62%
4 Goldman Sachs 110,886.78 482 4.51%
5 Barclays 106,582.38 490 4.34%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 29,965.54 145 8.63%
2 Barclays 25,510.29 106 7.35%
3 Deutsche Bank 24,247.02 105 6.98%
4 SG Corporate & Investment Banking 21,202.74 113 6.11%
5 HSBC 19,467.45 94 5.61%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,469.76 69 8.01%
2 Goldman Sachs 8,116.84 64 7.67%
3 Credit Suisse 6,908.88 70 6.53%
4 Deutsche Bank 6,384.59 62 6.04%
5 BNP Paribas 5,941.97 66 5.62%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 37,132.38 289 10.73%
2 Citi 29,048.74 232 8.39%
3 Bank of America Merrill Lynch 28,989.38 252 8.38%
4 Goldman Sachs 24,953.24 183 7.21%
5 Barclays 23,148.60 155 6.69%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 28,102.94 134 6.32%
2 Deutsche Bank 28,087.32 104 6.32%
3 BNP Paribas 27,948.80 144 6.29%
4 HSBC 25,973.95 128 5.84%
5 Citi 23,359.75 104 5.25%