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 ...

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.

All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 96,950.75 438 5.87%
2 Bank of America Merrill Lynch 96,339.88 420 5.84%
3 Citi 80,636.38 424 4.89%
4 Barclays 70,395.85 272 4.26%
5 Goldman Sachs 66,323.53 257 4.02%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 21,423.94 96 8.87%
2 Deutsche Bank 18,365.60 68 7.60%
3 SG Corporate & Investment Banking 16,706.78 76 6.92%
4 UniCredit 14,079.93 63 5.83%
5 Credit Agricole CIB 11,841.20 56 4.90%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 4,034.08 48 7.08%
2 Deutsche Bank 3,636.44 36 6.39%
3 Goldman Sachs 3,623.05 30 6.36%
4 JPMorgan 3,537.06 38 6.21%
5 Credit Suisse 3,303.94 34 5.80%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,194.51 135 9.92%
2 Credit Suisse 12,843.21 88 7.41%
3 Goldman Sachs 12,130.01 89 7.00%
4 Citi 12,023.66 101 6.94%
5 Bank of America Merrill Lynch 11,966.50 108 6.91%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 22,617.39 93 5.95%
2 BNP Paribas 22,551.58 94 5.93%
3 Barclays 22,073.53 73 5.80%
4 Deutsche Bank 21,008.00 83 5.52%
5 Citi 20,528.49 81 5.40%