Latest hybrid corporate bonds news

  • Otto finds demand remains strong for unrated hybrid

    Unrated German mail order retailer Otto Group found plenty of demand for its debut hybrid bond on Tuesday. Order books were more than twice oversubscribed following a week-long roadshow.

    • 10 Jul 2018
  • Sole-led short dated FRNs the order of the day

    The corporate bond market started the week slowly with a pair of well rated German corporates selling two year floating rate notes on Monday. Both had just a sole lead manager.

    • 09 Jul 2018
  • Volkswagen drives away with largest hybrid of 2018

    Volkswagen used the slipstream of the upbeat corporate bond market this week to print the largest corporate hybrid bond deal of the year to date. The dual tranche offering garnered €8bn of demand.

    • 21 Jun 2018
  • IG corporate floodgates open following Bayer

    Bayer’s €5bn four-tranche corporate bond offering on Tuesday not only cleared the way for other issuers to approach the market, but the €22.5bn of demand gave four issuers the confidence to sell a variety of deals in Europe on Wednesday. €3.5bn was issued in the euro market and £1bn in sterling.

    • 20 Jun 2018
  • Hybrid market reopens with sweet OMV deal

    Austrian oil and gas company OMV sold the first corporate hybrid deal in four weeks on Tuesday when it sold a €500m perpetual bond with a non-call six year structure which was more than three times subscribed.

    • 12 Jun 2018
  • Enel refinances €1.25bn of hybrids inside CFO’s target as demand remains high

    Italian energy company Enel sold €1.25bn of new hybrid bonds this week to help fund the repurchase of its hybrids with 2019 and 2020 call dates.

    • 17 May 2018
  • Enel refinances €1.25bn of hybrids inside CFO’s target

    On Tuesday, Italian energy company Enel sold €1.25bn of new hybrid bonds to help fund the repurchase of its hybrids with 2019 and 2020 call dates. The buyback was announced after the firm’s chief financial officer announced that the company would refinance up to €3.5bn of hybrids at a cost of about 3.5%.

    • 15 May 2018
  • Vodafone reboots equity-neutral mando for Liberty Global buy

    Vodafone, the UK-based telecoms group, is planning a raft of capital market activity to finance its €18.4bn acquisition of Liberty Global’s cable assets in Germany, the Czech Republic, Hungary and Romania, including a second try of the ground-breaking mandatorily convertible bonds it issued in 2016.

    • 09 May 2018
  • $2bn Unibail hybrid not enough to sate investors’ hunger for yield

    A four week wait for a new corporate hybrid deal came to an end this week with $2.3bn of supply. The levels of oversubscription, however, showed that plenty of demand still remains as investors clamour for the enhanced yields on offer compared to senior debt.

    • 19 Apr 2018
  • Syngenta waits in the wings as Grand City rides wave of hybrid demand

    German residential property company Grand City Properties brought its third corporate bond deal of 2018 to the market on Tuesday, while the return of seed company Syngenta with a jumbo multi-tranche deal neared.

    • 17 Apr 2018

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 75,347.35 359 5.93%
2 Bank of America Merrill Lynch 74,239.03 342 5.84%
3 Citi 61,954.56 351 4.87%
4 Barclays 58,729.13 218 4.62%
5 Goldman Sachs 50,207.03 203 3.95%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,045.93 79 9.43%
2 SG Corporate & Investment Banking 13,968.96 63 7.30%
3 Deutsche Bank 12,777.94 56 6.67%
4 UniCredit 10,968.94 48 5.73%
5 HSBC 10,482.96 60 5.48%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3,647.43 42 7.27%
2 JPMorgan 3,279.22 34 6.53%
3 Deutsche Bank 3,153.00 28 6.28%
4 Credit Suisse 2,939.41 27 5.86%
5 Goldman Sachs 2,892.87 27 5.76%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,575.71 111 9.62%
2 Citi 10,815.50 91 7.67%
3 Goldman Sachs 9,536.47 76 6.76%
4 Bank of America Merrill Lynch 9,455.18 88 6.70%
5 Barclays 9,449.01 71 6.70%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 18,928.06 77 6.44%
2 Barclays 17,915.82 53 6.09%
3 HSBC 17,859.84 77 6.07%
4 Citi 15,926.05 64 5.42%
5 JPMorgan 15,445.30 54 5.25%