Deal sizes remain cautious but tenors start to lengthen again

Bouyed by the success of the four deals that priced on Tuesday, three issuers launched deals in the corporate bond market on Wednesday. While deal sizes remain at the smaller end of what is considered a benchmark, longer tenors from triple-B rated corporates are offering investors more yield.

  • By Nigel Owen
  • 06 Sep 2017
Iberdrola’s latest green bond was the largest deal of the day. The €750m 10 year trade achieved the same size as two of the issuer’s previous five deals, but the tenor extended its green bond curve by 17 months. Syndicates on the deal suggested the deal came ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 164,938.31 718 7.19%
2 Bank of America Merrill Lynch 147,126.56 669 6.41%
3 Citi 129,711.97 691 5.65%
4 Goldman Sachs 105,201.77 447 4.58%
5 Barclays 99,621.62 449 4.34%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 29,154.37 137 8.85%
2 Barclays 24,473.15 99 7.43%
3 Deutsche Bank 22,163.65 93 6.73%
4 SG Corporate & Investment Banking 20,050.48 104 6.09%
5 HSBC 19,151.76 90 5.81%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 7,123.00 59 7.43%
2 Goldman Sachs 6,789.41 55 7.08%
3 Deutsche Bank 5,954.72 59 6.21%
4 Credit Suisse 5,809.63 61 6.06%
5 BNP Paribas 5,208.30 57 5.43%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 33,802.85 265 10.75%
2 Citi 26,963.27 215 8.58%
3 Bank of America Merrill Lynch 25,506.35 227 8.11%
4 Goldman Sachs 23,587.99 168 7.50%
5 Barclays 20,408.08 140 6.49%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 26,974.23 134 6.39%
2 Deutsche Bank 26,448.76 95 6.27%
3 Barclays 26,394.12 121 6.26%
4 HSBC 25,650.40 123 6.08%
5 Citi 22,829.99 98 5.41%