• PP: Live Data

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    • 16 Aug 2019
  • Chinese duo keep Asian primary bond market alive

    Local government-owned Shandong Guohui Investment Co made a quick comeback to the dollar bond market to raise $300m on Thursday, when its Chinese peer Qingdao Jimo District Urban Development Investment Co made its offshore debut.

    • 16 Aug 2019
  • Corporates defy the sell-off ahead of summer slowdown

    The US corporate bond market continued to crank out investment grade deals despite fears of a global recession battering risk assets this week.

    • 15 Aug 2019
  • IG bond bankers pin hopes on cheap credit as recession fears grow

    Secondary market spread may have widened in the corporate bond market, with an inversion in the US Treasury curve stoking recession fears. However investment grade bond bankers are confident investor appetite in the primary market is not facing existential threat.

    • 15 Aug 2019
  • Tottenham to win its spurs in US PP market

    London football club Tottenham Hotspur FC has entered the US private placement market, looking for £350m to partly pay off bank loans generated from the construction of its new stadium.

    • 15 Aug 2019
  • ‘Pooled bond’ brings foreign investor to Indian NBFCs

    Spanish impact fund Magallanes Impacto and India’s Northern Arc Capital’s joint investment in a Rp1.06bn ($15m) ‘pooled bond’ transaction highlighted foreign investors’ interests in India’s non-banking financial companies (NBFCs), as cash-strapped lenders look for alternative sources of funding. Addison Gong reports.

    • 15 Aug 2019
  • India’s Greenko finds window for quick bond sale

    Greenko Energy Holdings skirted market volatility on Wednesday, seizing a rare opportunity to close a dollar deal.

    • 15 Aug 2019
  • Fresenius enters Schuldschein market on hunt for euros

    German healthcare company Fresenius has launched a Schuldschein across three tenors.

    • 15 Aug 2019
  • Swathe of negative IG supply expected for September

    Investment grade corporate bond bankers expect an increase in negative yielding corporate debt supply in September. Investors are likely to have to suffer it no matter how hard they push back.

    • 14 Aug 2019
  • HY market grapples with tough turnarounds

    With no major new issues in sight, the high yield bond market has been dominated by the news of troubled businesses struggling to come up with credible turnaround plans.

    • 14 Aug 2019
  • Details emerge on ZF blockbuster Schuldschein return

    ZF Friedrichshafen is targeting the end of August to launch its grand return to the Schuldschein market, according to people with knowledge of the situation. The German car parts maker’s €2.2bn issue in November 2014 is the biggest deal the market has ever seen but a bigger deal may be on the way.

    • 14 Aug 2019
  • Zhenro, Orient brave tumultuous market

    Zhenro Properties Group returned to the dollar bond market for the seventh time this year on Tuesday, tapping one of its March transactions for an additional $110m. But the market presented a whole different set of problems for the borrower this time round.

    • 14 Aug 2019
  • Brace for more Burford-style rows if QE ramps up

    Burford Capital, the litigation funder, is under pressure over how it accounts for an obscure type of asset and how it finances its business using debt. In many respects it is a unique case, but it is a debacle fuelled by quantitative easing. With more of that on the way, pushing investors into ever more esoteric asset classes in the quest for yield, there will be plenty more businesses under scrutiny.

    • 13 Aug 2019
  • Gewobag closes Schuldschein with ‘well over €1bn’ bids

    German housing company Gewobag has closed a Schuldschein in the next few days with well over €1bn of orders, in a transaction that could be the largest of this year so far.

    • 13 Aug 2019
  • Scandi taps flow after summer break

    Volumes are growing across the spectrum in the Scandinavian MTN markets, as issuers and bankers return from their summer holidays. Meanwhile, bankers are expecting Scandinavian investors to move further out along the credit curve in response to negative yields as dovish Nordic central bank tones could lead to a bullish Scandinavian market.

    • 13 Aug 2019
  • A real summer break will do Asian bond market good

    Volatility has hurt secondary spreads and primary deal flow in the Asian bond market but really it is no bad thing. A quiet month is just what the market needs after an overwhelming amount of supply so far this year.

    • 13 Aug 2019
  • Corporate bond market preps for negative rates test

    Syndicate bankers in Europe's investment grade corporate bond market are readying themselves a growing number of deals to pay negative yields this September. But how deeply negative and in what part of the curve is up for debate.

    • 12 Aug 2019
  • BUUK Infrastructure sells US private placement

    BUUK Infrastructure, a UK utilities firm formerly called Brookfield Utilities, has sold US private placements, according to market participants.

    • 12 Aug 2019
  • Excellence fills coffers with club deal

    Excellence Commercial Properties Co made a quick outing to the dollar bond market on Friday, raising $150m in its second offshore debt sale of the year.

    • 12 Aug 2019
  • Swissport trims notes, fattens up term loan as HY bond market turns murky

    Swissport, the world’s largest provider of cargo and airport ground services,has increased the loan portion of its debt raise at the expense of bonds amid a volatile August market.

    • 09 Aug 2019
  • Burford bonds and shares in muddy water after short seller attack

    Burford Capital’s debt and equity securities rebounded on Thursday, after the firm rebutted claims from short seller Muddy Waters Research that it was "arguably insolvent". The episode brought some rare excitement to the sterling retail bond market, but is perhaps emblematic of its decline over the past few years. Meanwhile, investors appeared undecided over whether Muddy Waters’ claims about the litigation funder were correct.

    • 09 Aug 2019
  • Changde LGFV braves volatility with $300m anchored deal

    Changde Economic Construction Investment Group Co, a local government financing vehicle in China’s Hunan province, priced its debut international bond on the back of strong anchor support, in a week where both issuers and investors treaded carefully.

    • 09 Aug 2019
  • GlobalCapital reveals SRI Award nominations

    GlobalCapital has published the nominations for its Sustainable and Responsible Capital Markets Awards. The winners will be announced on September 17, at our Awards Ceremony in Amsterdam.

    • 09 Aug 2019
  • IG bonds set for dry spell after latest volitility

    Another issuance dry spell looks likely for investment grade corporate bonds, with plummeting rates — and wider spreads — doing much to deter borrowers.

    • 08 Aug 2019
  • Blinded by the white knights?

    There is a limit to what central banks can do to stop people in capital markets from reacting to their fears.

    • 08 Aug 2019
  • HK unrest, trade war tensions trigger turmoil in Asia

    Rising tensions between the US and China, coupled with a mass strike in Hong Kong at the start of the week, caused a sell-off not just in the city’s stocks market but also across Asian bonds. While sentiment has recovered slowly, the market turbulence is set to keep equity and bond bankers on their toes. Jonathan Breen, Morgan Davis and Addison Gong report.

    • 08 Aug 2019
  • Next clears old lines in summer sale

    Next, the Baa2/BBB (negative) UK retailer broke a dry spell for corporate investment grade issuance on Wednesday when it sold £50m of bonds retained from a new issue done in April.

    • 07 Aug 2019
  • Risk costs snag Commerz as outlook worsens

    Michael Reuther, head of Commerzbank’s corporate clients division, expects more firms to enter the bank’s "intensive care department" as economic pressures weigh on European corporates. And in his unit the cost of risk more than tripled in the second quarter, helping to shrink operating profits.

    • 07 Aug 2019
  • Loans bankers fear sanctions will damage Russia market

    Emerging market loan bankers have been trying to understand the impact on syndicated lending of the US’s latest sanctions on Russia. The proscriptions have instilled more uncertainty into a collapsing market.

    • 07 Aug 2019
  • Sirius bother in HY as Next returns to IG

    A UK fertiliser mining project was thrown into jeopardy this week as the high yield market turned too spicy for some investors. But for those looking for something milder for their portfolios in the primary market, there was little to be found either with no investment grade supply until UK retailer Next appeared on Wednesday morning.

    • 07 Aug 2019
  • Vingroup plans $750m outing before year-end

    Vietnamese conglomerate Vingroup is planning a return to the offshore debt market to raise up to $750m from international bonds.

    • 07 Aug 2019
  • Senior DCM banker leaves Credit Suisse

    Credit Suisse's head of Greater China debt capital markets has quit the bank, according to sources.

    • 07 Aug 2019
  • Newport City Homes refinances in PP market

    Newport City Homes (NCH) has sold a £95m private placement to Legal & General, as housing associations soldify their position in the private debt market.

    • 06 Aug 2019
  • Widening spreads make August IG issuance spree repeat unlikely

    Widening spreads in the investment grade corporate bond market are making the chance of a repeat of last year's heavy issuance in the first week of August look slim.

    • 06 Aug 2019
  • Green deals will have the greatest impact on the Schuldschein market this year

    Green Schuldscheine have been a peripheral feature of the market for the past three years but this seems to be changing, with a billion plus transaction from Porsche and a sustainability linked note from Durr stirring investors into a frenzy. This green turn could have more of an impact for short term market growth than the odd non-European borrower tapping the market.

    • 06 Aug 2019
  • Trade war silences Asian primary bond market

    Asia’s primary bond market was quiet for the second day in a row on Tuesday, as investors continued to remain wary about rising tensions between the US and China.

    • 06 Aug 2019
  • Prospect for new IG bonds bleak, despite Daimler splurge

    Investors hoping for new investment grade corporate bonds this week may be disappointed, as widening spreads and falling equities make the market less tempting for issuers.

    • 05 Aug 2019
  • Tate & Lyle sells US PPs

    Ingredients group Tate & Lyle has priced a $200m US private placement, in order to refinance a sterling bond set to expire in November.

    • 05 Aug 2019
  • Ferrari debuts in the US private placement market

    Luxury sports car company Ferrari has sold €300m of US private placement notes, according to an SEC filing on Friday. Its debut offering is one of only a handful of transactions from the auto sector to reach the market.

    • 05 Aug 2019
  • Greenpeace questions Marfrig bond’s signal

    International investors this week enthusiastically bought a $500m ‘sustainable transition bond’ issued by Marfrig, the second biggest Brazilian beef producer. The deal highlighted its efforts to make its supply chain more sustainable. But Greenpeace, the environmental NGO, argues it is impossible to be sure the supply chain does not include harmful practices.

    • 02 Aug 2019
  • Chinese high yield borrowers brave post-FOMC market

    Central China Real Estate and Shandong Chenming Paper Holdings have raised a combined $463m from dollar bond investors amid a weak market backdrop.

    • 02 Aug 2019
  • Sinopec takes $2bn in soft market

    China Petrochemical Corp (Sinopec) navigated a weak market following this week’s rate cut announcement to raise $2bn from a three-tranche deal. While it took a smaller amount than usual, its transaction was well-timed, say bankers.

    • 02 Aug 2019
  • EnBW uses hybrid for sophomore green effort

    Energie Baden-Württemberg (EnBW) hit screens on Monday to sell a pair of green hybrid bonds, returning to the green bond market to follow up on its October 2018 debut.

    • 01 Aug 2019
  • Marfrig’s transition bond: how fast is fast enough?

    The latest idea captivating sustainable finance enthusiasts is transition bonds.

    • 01 Aug 2019
  • Marfrig sticks its neck out with transition bond

    Marfrig Global Foods, the Brazilian beef producer, has stirred up the green finance market by issuing a $500m ‘sustainable transition bond’. To some, it is a template for a new asset class that can help finance the global economy’s shift to lower carbon emissions. To others, it is a shocking case of greenwashing. By Oliver West and Jon Hay.

    • 01 Aug 2019
  • UK social housing hopes Boris will match May's commitment

    Capital market participants with an interest in UK social housing are paying close attention to new UK prime minister Boris Johnson’s appointments to his cabinet and inner circle, to try to gain a sense of his attitude towards housing.

    • 01 Aug 2019
  • California utility hits bond market in wake of law to ease wildfire risk

    Southern California Edison has priced a $1.2bn dual tranche corporate bond offering after its credit ratings were placed on a firmer footing in the wake of a wildfire risk mitigation law.

    • 01 Aug 2019
  • BNP Paribas takes Nomura’s McNaught for UK advisory

    Andrew McNaught will lead BNP Paribas’ UK advisory team from the end of the month, as the French bank plans to develop its corporate operations in the country “further, faster”.

    • 01 Aug 2019
  • Domanico moves on again at Créd Ag

    Crédit Agricole has appointed Sébastien Domanico as head of global markets for Europe, the Middle East and Africa, just weeks after he was picked to lead a different division at the bank.

    • 01 Aug 2019
  • Banks run to stand still in PE coverage race

    Banks are racing to expand their sponsors coverage teams as they fight to remain relevant to private capital providers at a time of disintermediation in investment banking. By David Rothnie.

    • 01 Aug 2019

All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 91,192.05 449 5.83%
2 Citi 83,372.35 426 5.33%
3 Bank of America Merrill Lynch 80,651.89 414 5.15%
4 Barclays 72,018.88 306 4.60%
5 Goldman Sachs 59,875.46 292 3.83%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 20,638.21 54 8.44%
2 BNP Paribas 16,514.56 94 6.75%
3 Deutsche Bank 15,422.56 75 6.30%
4 SG Corporate & Investment Banking 15,340.46 67 6.27%
5 Bank of America Merrill Lynch 14,105.99 45 5.77%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 4,728.01 24 9.17%
2 JPMorgan 3,649.83 29 7.08%
3 Deutsche Bank 3,638.27 22 7.06%
4 Barclays 3,441.80 22 6.68%
5 Goldman Sachs 3,389.62 26 6.58%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 18,847.11 143 9.46%
2 JPMorgan 18,162.36 146 9.11%
3 Goldman Sachs 14,831.56 109 7.44%
4 Bank of America Merrill Lynch 14,255.85 117 7.15%
5 Morgan Stanley 12,912.93 86 6.48%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 16,573.16 92 5.72%
2 SG Corporate & Investment Banking 15,343.03 70 5.29%
3 Barclays 15,274.25 63 5.27%
4 JPMorgan 15,018.24 65 5.18%
5 Citi 14,456.99 66 4.99%