Latest news on corporate MTNs, private placements, Schuldschein

  • PP: Live Data

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    • 16 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
  • Fresenius enters Schuldschein market on hunt for euros

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

    • 15 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • Porsche sells largest green Schuldschein ever

    Porsche AG, maker of Porsche sports cars, closed a green Schuldschein this week, with pricing and allocation set for Friday. The final size is rumoured to be €1bn, with an order book far exceeding that.

    • 30 Jul 2019
  • Beyond control: Mike Ashley’s brush with the US PP market

    Andrew Hollingworth, a portfolio manager at Holland Advisors and shareholder in Sports Direct, has urged Mike Ashley, the sports retailer’s owner, to pay more attention to corporate governance. But had Hollingworth known about the US private placement market’s experience of dealing with Ashley — in this case over debt owed by one of his other businesses, Newcastle United FC — he might have campaigned for it even more strongly.

    • 30 Jul 2019
  • Fraport enters the Schuldschein market for more

    Fraport, which operates Frankfurt airport and has stakes in several other airports, has entered the Schuldschein market for a second time this year, with an initial target of €200m.

    • 29 Jul 2019
  • World Bank floats in Hong Kong dollars for the first time since 2009

    The World Bank placed its first Hong Kong dollar deal of its 2019/2020 funding year last week. The supranational chose to link the private placement to the Hibor benchmark, a now little seen structure that was likely the result of a "very specific enquiry", according to one MTN banker away from the deal.

    • 29 Jul 2019
  • DKS floats majority clauses in Schuldschein market

    Deutsche Kreditmarkt-Standards (DKS), a German industry body, held a conference call with Schuldschein participants on Thursday afternoon to discuss restructuring in the Schuldschein market, and whether there is a case for a standardised collective action clause.

    • 25 Jul 2019
  • EMH Group goes long in US PP mart

    East Midlands Housing Group (EMH), a housing association located in the UK county of Leicestershire, has secured £100m ($124.8m) of long-dated debt from the Pension Insurance Corporation (PIC).

    • 25 Jul 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%