Bank of America Merrill Lynch's role as one of the lead banks on a record-breaking bond from pharmaceuticals group Shire has seen it leapfrog HSBC to top the domestic bookrunner rankings.

Shire announced the placing of the $12.1 billion bond on September 19, with issuance expected to happen on September 23. The deal is the largest UK corporate issuance on record, according to Dealogic.