British Land first of two returning UK REITS

As the European Central Bank meeting suspended euro issuance on Thursday, British Land took the opportunity to grab UK investors’ attention with its first senior bond for 11 years. The £300m 12 year deal followed Tuesday’s £250m seven year transaction from Total, which had an order book of around £600m.

  • By Nigel Owen
  • 07 Sep 2017

British Land issued convertibles in June 2015 and September 2015, but its last benchmark bond issuance was in August 2006, when it sold a £310m 22 year tranche alongside a £330m 29yr tranche.

Barclays, Lloyds and NatWest were mandated last week to arrange investor meetings in London ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 131,879.09 573 7.20%
2 Bank of America Merrill Lynch 118,834.05 539 6.48%
3 Citi 103,683.75 539 5.66%
4 Goldman Sachs 85,888.86 353 4.69%
5 Barclays 81,514.46 357 4.45%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 22,951.77 105 8.80%
2 Barclays 19,796.44 75 7.59%
3 Deutsche Bank 17,736.38 73 6.80%
4 HSBC 15,843.10 70 6.07%
5 SG Corporate & Investment Banking 14,554.56 78 5.58%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 5,335.13 43 7.86%
2 Goldman Sachs 4,801.82 38 7.07%
3 Deutsche Bank 4,643.96 44 6.84%
4 Credit Suisse 4,353.57 48 6.41%
5 Barclays 4,156.24 35 6.12%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 27,143.08 213 10.83%
2 Citi 21,041.57 167 8.39%
3 Bank of America Merrill Lynch 20,960.58 186 8.36%
4 Goldman Sachs 18,419.20 133 7.35%
5 Morgan Stanley 17,410.41 103 6.94%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 22,628.04 74 6.64%
2 HSBC 22,246.60 98 6.52%
3 BNP Paribas 21,794.95 106 6.39%
4 Barclays 21,638.43 92 6.35%
5 Citi 19,224.66 78 5.64%