Latest hybrid corporate bonds news

  • Aroundtown comes round again for euro hybrid

    Aroundtown, the German property company, chose Tuesday, when the European corporate bond market was otherwise empty of new issues to sell its second hybrid capital deal in as many months.

    • 09 Jul 2019
  • CRCC sets benchmark for Chinese SOE sub perps

    China Railway Construction Corp has priced an unusual $1bn subordinated perpetual bond, with more issuers expected to adopt a similar structure in the wake of new guidelines on accounting treatment for corporate perps.

    • 21 Jun 2019
  • Enel increases hybrid after successful exchange offer

    Enel has completed its exchange offer of new hybrid bonds for old. The process began with a new issue of €300m of 61 year non-call six hybrids, which were priced last week to yield 3.625%.

    • 24 May 2019
  • CPI hybrid buyers blindsided by $1bn lawsuit days after launch

    CPI Property Group, a central and Eastern European specialist, raised €550m from a hybrid bond on Tuesday, but the debt slumped on Wednesday when a US hedge fund with which it has been fighting a legal battle filed a new $1bn lawsuit in New York. David Greenbaum, CPI’s CFO, told GlobalCapital the allegations were ridiculous and had been concocted in a deliberate attempt to disrupt the deal.

    • 11 Apr 2019
  • CPI looking for euro hybrid

    CPI Property Group hit screens on Monday, announcing a call to promote a new subordinated euro bond.

    • 08 Apr 2019
  • Lafarge rewarded for two year wait with hybrid blowout

    Eager demand for hybrid capital issues, amid an environment of low rates, was on show again on Monday, when LafargeHolcim issued its first big deal of this kind. The pricing was tightened by an exceptional amount during the bookbuild — 69bp.

    • 01 Apr 2019
  • Total pays no NIP for hybrid as funds crave yield amid rate rally

    Total, the French oil company, achieved a flat new issue concession on its €1.5bn hybrid bond on Wednesday, according to bankers away from the deal, as investors swarmed into the book in search of yield.

    • 28 Mar 2019
  • Vodafone sells new $2bn hybrid after mando equity credit loss

    Vodafone launched and priced on Thursday a $2bn hybrid capital issue, to gain some more equity credit in the eyes of the rating agencies. The deal follows Moody’s decision on Monday to give no equity credit to Vodafone’s £3.4bn mandatorily convertible bond, issued on March 5.

    • 28 Mar 2019
  • Total refreshes hybrid stack with new €1.5bn and buyback

    Total, the French oil company, issued a €1.5bn hybrid capital bond on Wednesday, at the same time as launching a tender offer to buy back some of its €2.5bn call February 2021 and €1.75bn call May 2022 hybrids.

    • 27 Mar 2019

hybrid corporate bonds news archive

Capital markets data from GlobalCapital


Go to GlobalCapital's Corporate Bonds data pages for the latest information on priced deals, the new issue pipeline and bookrunner league tables across the investment grade and high yield markets.


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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 78,475.06 405 5.59%
2 Citi 72,778.55 386 5.19%
3 Bank of America Merrill Lynch 69,820.23 378 4.98%
4 Barclays 61,975.62 275 4.42%
5 Goldman Sachs 53,073.36 263 3.78%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 20,165.66 52 8.58%
2 BNP Paribas 16,355.58 93 6.96%
3 SG Corporate & Investment Banking 14,459.73 64 6.15%
4 Bank of America Merrill Lynch 14,105.99 45 6.00%
5 Deutsche Bank 13,418.68 68 5.71%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 4,051.77 21 8.91%
2 Deutsche Bank 3,332.06 20 7.33%
3 BNP Paribas 2,987.66 27 6.57%
4 JPMorgan 2,855.76 23 6.28%
5 Goldman Sachs 2,523.29 20 5.55%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,276.28 137 9.81%
2 Citi 16,735.42 132 9.50%
3 Bank of America Merrill Lynch 12,882.26 107 7.31%
4 Goldman Sachs 12,730.92 97 7.23%
5 Morgan Stanley 9,867.65 77 5.60%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 15,614.90 90 5.79%
2 SG Corporate & Investment Banking 14,023.73 67 5.20%
3 Barclays 13,806.00 59 5.12%
4 JPMorgan 13,521.34 60 5.02%
5 Citi 13,338.04 61 4.95%