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Corporations got into debt

Corporations got into debtResearch division of Thomson Reuters - Global Deals Intelligence has released data on the activity of debt issuers in 2012. Most active in the debt market behaved corporate issuers, issued record amounts of bonds. Investment banks were able to take advantage of this, significantly increasing their commissions.

According to the Global Deals Intelligence, the total amount of the issuance of debt securities at the end of 2012 was $ 5.6 trillion, or 10% more than in 2011, and is the highest rate since 2009. Bonds with higher yields in the world for the year 2012 was released on $ 389 billion, up 38% from a year earlier. And in 2012, the market for high yield bonds set an absolute record since 1980. Only in the fourth quarter of last year, the issuers of such bonds put at $ 113.2 billion, which was an absolute quarterly record for the statistical purposes. The volume of corporate bond issues with an investment rating also reached an absolute record of $ 2.7 trillion, an increase of 15% compared with 2011.

Particularly active in the debt capital markets behaved companies from developing countries - last year they released bonds worth $ 306 billion, up 32% from a year earlier and a record since 1980. Thomson Reuters researchers note that a significant role was played by corporate issuers from Russia, India and Brazil, which together produced more than half - 52% - of the total corporate bond issuers in developing countries.

By volume of commissions received for the placement, the world's leading investment banks for the year was the American JP Morgan with a market share of 7.9%, to participate in placement for a total of $ 438.6 billion and earn $ 1.9 billion on second place went to last year's third with a share of Deutsche Bank 6.7% and the total amount of fees received $ 1.25 billion, while the third place from last year's second British Barclays dropped 6.4% from shares and commissions totaling $ 1.16 billion

In Russia, according to the company Dealogic, makes this country, in its review, JP Morgan took the third place in terms of a Commission in the field of investment banking ($ 58 million), is leading a "VTB Capital" ($ 91 million), the second - the Savings Bank CIB ( $ 86 million).

According to Thomson Reuters and Freeman Consulting, the total amount of fees received by investment banks for mediation services in placement, grew by 28%, to $ 21.7 billion and the volume of commission most - 37% - have grown over the placement of bonds rated below investment.

Despite the ongoing euro crisis, investors have not lost interest in corporate Eurobonds. The total issue of such debt securities in the last year increased by 69.5%, which is second only to the level reached in 2009. The main drivers of growth in the European corporate bond market were companies in the consumer sector and services, issued 124.3% more than in 2011, the company engaged in the handling of materials - by 90.4% more and energy companies - 62, 7% more. Moreover, investors' confidence in the European corporate issuers can borrow in the market at very low rates - in 2012, the average coupon bonds was 4.1%, which is the minimum level for the time of statistics.

At the same time, the issue of European government bonds in 2012, grew by only 3.3%. Most in the Eurobond issue in 2012, earned the French BNP Paribas - ? 163,1 million

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