Corporate bonds are back as BAA revels in Eu4.5bn bid and pipeline nears Eu3bn

UK airports company BAA hauled in a stunning Eu4.5bn of orders for its Eu750m 10 year bond in just 90 minutes on Wednesday, proving that the climate could not be better for corporate borrowers considering issuing this autumn.

  • 17 Sep 2004

The deal followed General Motors Acceptance Corp's Eu2bn blowout in fixed and floating euros which reopened the corporate bond market last week.

But unlike GMAC, which has the shadow of a potential downgrade over its investment grade rating, BAA is rated A3/A+ and offers very ...

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Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 241,977.38 927 8.19%
2 JPMorgan 223,817.40 997 7.58%
3 Bank of America Merrill Lynch 216,160.55 723 7.32%
4 Barclays 185,098.93 672 6.27%
5 Goldman Sachs 158,991.47 518 5.38%

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  • Today
1 JPMorgan 32,522.19 61 6.54%
2 BNP Paribas 32,284.10 130 6.49%
3 UniCredit 26,992.47 123 5.43%
4 SG Corporate & Investment Banking 26,569.73 97 5.34%
5 Credit Agricole CIB 23,807.36 111 4.79%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 10,167.68 46 8.81%
2 JPMorgan 9,894.90 42 8.58%
3 Citi 8,202.25 45 7.11%
4 UBS 6,098.17 23 5.29%
5 Credit Suisse 5,236.02 28 4.54%