Capital Markets News, Data & Analysis

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  • RBS cuts CEE bonds and loans, Mustafa to leave

    Hasan Mustafa, head of CEEMEA debt capital markets and risk solutions, is leaving Royal Bank of Scotland as it takes the axe to its emerging markets business.

    • 02 Sep 2014
  • Santander book size drops by €13bn since last euro AT1

    Santander is out with the first additional tier one (AT1) trade from a major European bank since June, bringing just a €3.75bn book ahead of pricing for a perpetual non-call seven year deal — suggesting that the demand dynamics of the asset class may have changed since the first half of the year.

    • 02 Sep 2014
  • Virgin brings back Gosforth as FLS effect melts away

    Virgin Money has mandated banks for its first new RMBS sale since 2012, in a further sign that a weakened Funding for Lending Scheme and a tightening of UK RMBS spreads is making the market tempting once more to a bigger pool of issuers.

    • 02 Sep 2014
  • ICMA revamps sovereign default rules

    The International Capital Market Association is releasing revised and updated collective action clauses (CACs) to deal with defaults for syndications not already subject to the euro area model collective action clauses introduced in January 2013. The documentation includes for the first time a standard pari passu clause in a move intended to allow for a more predictable process in sovereign debt restructurings.

    • 28 Aug 2014
  • BMW’s bold €1.75bn opens new phase of minuscule coupons

    BMW reopened the European benchmark investment grade corporate bond new issue market on Tuesday with a punchy €1.75bn deal that sent a strong signal: spreads — and especially yields — for corporate issuers are set for a very tight autumn. BMW paid a coupon of just 0.5% on its €1bn four year tranche. But despite these pitifully thin yields, investors are eager to buy.

    • 28 Aug 2014

People and Markets

  • Upstart UBS threatens CS’s home market hegemony

    Zurich based debt bankers are preparing for an exciting close to the year, with September set to bring a four month race between the Swiss franc market’s two top dogs as perpetual bridesmaid UBS threatens to take the top spot for the first time since the 1990s.

    • 28 Aug 2014
  • Canada launches new North America RMB trade hub initiative

    Canada is stepping up its efforts to promote itself as a new renminbi trading hub and secure a leading position in RMB settlement in the Americas. The Toronto Financial Services Alliance (TFSA) and AdvantageBC, a lobby group for British Columbia, said this week that they are working with officials from the federal and provincial governments, as well as the financial industry, to put the country on the RMB map.

    • 29 Aug 2014
  • Senior levfin banker joins Credit Suisse

    Credit Suisse has hired a managing director to its EMEA leveraged finance and sponsors group in London.

    • 28 Aug 2014
  • Deutsche fills gap as German giant parks Clarke in SSA hot seat

    Deutsche Bank has hired a new head of dollar SSA trading to replace Hiren Gudka. It is the latest in a round of moves within the bank’s public sector bond team this year.

    • 28 Aug 2014

GlobalCapital View

  • Alibaba’s IPO is well worth the wait

    There was plenty of speculation about the timing on Alibaba Group’s IPO even before the e-commerce company officially announced its listing plans. The saga took another turn this week as the launch date was postponed. But with the stakes high for the whole industry, it’s better for Alibaba to take its time and get the deal right.

  • The tide is turning on Europe’s underloved IBs

    Cynicism is infectious, especially in the capital markets, and it has been easy to sneer at Europe’s investment banks. Lacking scale in the muscle-bound world of bond trading, and hobbled by scandal and regulation, the prevailing narrative has been that they should go big or go home.

  • Pushing maturities is the next stage of peripheral recovery

    Spain showed the rewards of being creative with its longest ever bond of the euro era on Monday, chopping €1bn from its funding needs with a deal that will mature when the eurozone debt crisis is a matter for history books, not newspapers. With more dovish measures possibly on the horizon at this week’s European Central Bank meeting, issuers could soon find that such deals are the best way to add some duration to their debt profiles.

  • Let this be the autumn that ECM comes of age

    The last two Septembers in the equity capital markets have been marked by frenzy and excitement. This autumn, at last, should be the one the market returns to normal — and the winners will be those that adjust their strategy to match.

  • Boris island ditched – disaster averted

    Boris Johnson’s plan for a new island airport east of London is a vainglorious waste of money. The UK’s decision to build new runway capacity at Heathrow or Gatwick is the right one. They are proven capital markets players and are best placed to deliver.

  • One in, one out at CIFC board

    CIFC Asset Management, one of the most active CLO managers in the US, has appointed a former Ares Management senior partner to its board of directors. Another CIFC board member has resigned.

    • 26 Aug 2014
  • Deutsche Bank hires BAML equity chief

    John O’Brien, former managing director and head of New York derivatives sales at Bank of America Merrill Lynch, started at Deutsche Bank this week.

    • 28 Aug 2014
  • Up-and-coming CLO shop adds analyst

    A new North Carolina-based CLO manager is continuing to build up its small team, adding another analyst with the eventual aim of run high-diversity portfolios.

    • 27 Aug 2014
  • Grisdale takes charge of commercial banking at HSBC

    HSBC has promoted Andy Grisdale to chief of staff for commercial banking in Asia Pacific, with Mahbub Rahman moving into his old role as head of commercial banking HSBC Malaysia.

    • 28 Aug 2014
  • Euronext hires post-trade chief

    Andrew Simpson, ex-coo at Rate Validation Services, has been appointed head of post-trade at Euronext as the exchange operator makes a push to expand its post-trade services following a demerger with parent company IntercontinentalExchange earlier this year. Simpson will be responsible for developing Euronext’s relationship with LCH.Clearnet and its clearing strategy for both cash and derivatives markets.

    • 22 Aug 2014
  • Grisdale moves up the commercial banking ladder at HSBC

    HSBC has promoted Andy Grisdale to chief of staff for commercial banking in Asia Pacific with Mahbub Rahman moving into his old role as head of commercial banking HSBC Malaysia.

    • 26 Aug 2014



More Stories

Global IB Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Sep 2014
1 JPMorgan 4,236.04 3185 8.14%
2 Goldman Sachs 3,483.04 1827 6.69%
3 Bank of America Merrill Lynch 3,385.29 2814 6.51%
4 Morgan Stanley 3,018.53 2271 5.80%
5 Deutsche Bank 2,842.19 2216 5.46%

Global M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Sep 2014
1 Goldman Sachs 2,238.03 337 0.00%
2 JPMorgan 2,027.71 276 0.00%
3 Bank of America Merrill Lynch 1,434.33 232 0.00%
4 Morgan Stanley 1,410.17 281 0.00%
5 Credit Suisse 1,232.54 231 0.00%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Sep 2014
1 JPMorgan 219,570.04 844 7.84%
2 Barclays 211,559.30 719 7.56%
3 Deutsche Bank 202,783.22 804 7.24%
4 Citi 196,122.83 726 7.01%
5 Bank of America Merrill Lynch 191,612.71 668 6.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 33,409.30 147 7.26%
2 Credit Agricole CIB 23,745.78 96 5.16%
3 HSBC 22,616.59 128 4.92%
4 Commerzbank Group 22,221.24 122 4.83%
5 Barclays 21,931.61 88 4.77%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,187.61 96 9.14%
2 Goldman Sachs 19,786.26 62 8.96%
3 Deutsche Bank 18,686.20 63 8.46%
4 UBS 16,830.14 66 7.62%
5 Bank of America Merrill Lynch 16,179.41 55 7.33%