• Issuers find conditions tougher as busiest week of year goes on

    Corporate bond issuers who sold their deals earlier the week found execution much easier than those who came later in the week. Strong order books and single digit new issue premiums gave way to premiums of as much as 20bp and one deal having to be downsized.

    • 15 Mar 2018
  • Tullow Oil’s refi coupon teases pension funds

    Tullow Oil, the group based in London that has most of its operations in Africa, was on course to print its new high yield bond in the 7% area this week. It was attracting interest from pension funds in need of assets with high returns, according to sources.

    • 15 Mar 2018
  • Dar Al Arkan tightens sukuk as book hits $1.1bn

    Saudi property developer Dar Al Arkan has tightened price guidance for its sukuk, with books for the deal hitting $1.1bn.

    • 14 Mar 2018
  • Majid Al Futtaim brings third hybrid, buys back older one

    Dubai-based developer Majid Al Futtaim printed its third hybrid bond on Tuesday, a $400m perpetual non-call eight year. In the absence of a strong Asian bid, real money European investors anchored the book.

    • 14 Mar 2018
  • Qingdao China Prosperity nabs $500m from debut

    Weak sentiment among investors for duration risk meant Chinese local government financing vehicle Qingdao China Prosperity State-owned Capital Operation (Group) Co sold a larger three year bond than a five year, finding support due to the buy-side’s familiarity with its city.

    • 14 Mar 2018
  • Chinese issuers venture into euro market

    China’s Tianjin Rail Transit Group Co (TRT) and Chengdu Xingcheng Investment Group Co both dipped into the euro market on Tuesday, with the former printing a green bond.

    • 14 Mar 2018
  • WPP dual-trancher goes short as French pair go long

    After a reasonable wait, investors are starting to see the more frequent investment grade corporate bond issuers return to the market. On Tuesday, French materials company Saint-Gobain and French telecoms operator Orange sold benchmark deals and UK media company WPP sold a dual-tranche issue.

    • 13 Mar 2018
  • Seplat sells $350m though ‘bigger trade was available’

    Seplat Petroleum sold a $350m five year non-call two bond on Monday, turning down a larger trade that was available, according to a lead manager. The final print was being smaller than originally indicated.

    • 13 Mar 2018
  • Dar Al Arkan puts out initial guidance

    Dar Al Arkan has released initial price guidance for its dollar benchmark sukuk.

    • 13 Mar 2018
  • India’s NTPC pushes out $400m deal

    India’s NTPC sold its first dollar bond in two years on Monday, but the market backdrop forced the usually popular issuer to pay up.

    • 13 Mar 2018
  • Seplat embarks on reduced debut with high 9% price talk

    Seplat Petroleum, a Nigerian oil and gas exploration and production company, was offering a 9% handle for its market debut on Monday.

    • 12 Mar 2018
  • MAF markets perp new issue and buyback

    Dubai based developer Majid Al Futtaim has launched a tender offer and new issue in order to optimise the cost of its hybrid capital and balance sheet structure.

    • 12 Mar 2018
  • Dar Al Arkan hits the road for sukuk

    Dar Al Arkan Real Estate Development Company has mandated eight banks to arrange a dollar benchmark five year sukuk.

    • 08 Mar 2018
  • Emirates Airlines lines up first Gulf corporate sukuk of 2018

    Emirates Airlines has named leads for its first unsecured bond since 2013, adding the region’s first international non-financial corporate sukuk this year to what has so far been limited supply from the asset class.

    • 07 Mar 2018
  • Standard Chartered corporates adds Boom

    Standard Chartered has hired a JP Morgan banker to lead part of its North American corporates team.

    • 05 Mar 2018
  • Investors spoilt for choice in China property

    Investors interested in Chinese property bonds had plenty to choose from this week. Eight high yield real estate names raised more than $2.4bn in dollar bonds, with yields ranging from low-6% to over 10%.

    • 01 Mar 2018

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Mar 2018
1 Citi 94,984.75 352 8.11%
2 Bank of America Merrill Lynch 91,388.48 264 7.80%
3 JPMorgan 85,989.76 355 7.34%
4 Barclays 75,861.83 231 6.48%
5 Goldman Sachs 63,392.84 171 5.41%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Mar 2018
1 Deutsche Bank 11,282.84 20 9.25%
2 SG Corporate & Investment Banking 10,109.80 20 8.29%
3 Bank of America Merrill Lynch 9,894.16 18 8.11%
4 Citi 7,208.72 18 5.91%
5 BNP Paribas 6,855.32 27 5.62%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Mar 2018
1 Goldman Sachs 4,258.05 18 13.42%
2 Deutsche Bank 2,404.90 13 7.58%
3 SG Corporate & Investment Banking 1,933.40 11 6.09%
4 Credit Suisse 1,775.47 8 5.59%
5 JPMorgan 1,732.54 10 5.46%