$58.9bn: Largest August volume on record

US marketed corporate IG issuance totals $58.9bn in August so far, the largest August volume on record, beating $44.9bn in August 2011 and more than double the $24.5bn in August 2015. Volume was led by Microsoft’s $19.75bn AAA-rated, 7-tranche deal, the third largest corporate IG bond this YTD, and made up 34% of August volume.

$547.4bn Corporate IG volume in 2016 YTD

US marketed corporate IG bond issuance totals $547.4bn in 2016 YTD, the second highest YTD total on record, behind the record in 2015 ($569.9bn). Volume has surpassed $400bn for the fifth consecutive YTD, however 354 deals in 2016 YTD is the least since 1995 YTD (340 deals) leading to a record average deal size of $1.55bn.

$108.4bn: technology leads YTD ranking

Technology leads the US marketed corporate IG sector ranking with a record $108.4bn, up 53% on the previous YTD high in 2015 and accounts for 20% of all sector volume. 4 of this year’s 7 $10bn+ corporate IG bonds come from the sector: Dell’s $20.0bn deal in May; Microsoft’s $19.75bn deal in August; Oracle’s $14.0bn deal in June; and Apple’s $12.0bn deal in February stand as the largest Technology deals in 2016 YTD.

JPMorgan tops US Corp IG bookrunner ranking

JPMorgan leads the US marketed corporate IG bookrunner ranking in 2016 YTD with an 11.7% market share. Bank of America Merrill Lynch and Citi follow with 11.5% and 9.0%, respectively.