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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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 325,433.10 1264 8.10%
2 JPMorgan 317,420.42 1383 7.90%
3 Bank of America Merrill Lynch 292,651.96 1006 7.28%
4 Barclays 245,574.95 917 6.11%
5 Goldman Sachs 216,745.88 728 5.39%

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1 BNP Paribas 45,688.28 179 7.05%
2 JPMorgan 43,572.44 88 6.72%
3 UniCredit 35,452.34 152 5.47%
4 Credit Agricole CIB 33,170.05 159 5.12%
5 SG Corporate & Investment Banking 32,244.80 125 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 13,643.79 60 8.96%
2 Goldman Sachs 13,204.47 65 8.68%
3 Citi 9,716.40 55 6.38%
4 Morgan Stanley 8,471.86 53 5.57%
5 UBS 8,136.41 33 5.35%