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  • FIG bankers face new fears after stress test success

    No sooner had financiers of Europe’s banks breathed a collective sigh of relief following Sunday’s historic assessment of the health of the continent’s financial institutions than they were beset by new worries.

    • 30 Oct 2014
  • Syndicates cut back ECB as it takes covered buying to primary

    For the first time the European Central Bank waded into the primary market for covered bonds for its third purchase programme (CBPP3) this week, as eurozone issuers from the currency bloc’s core and periphery returned after a long hiatus. The central bank’s buying may not be so good for core issuers but the evidence so far suggests peripheral names who have been locked out are about to bask in its largesse.

    • 30 Oct 2014
  • Green pays off for NRW.Bank after SRI bond pricing coup

    The pricing deadlock between supranational and agency issuers of green bonds and investors began to fracture this week, after NRW.Bank sold paper that some bankers said was priced through its conventional curve.

    • 30 Oct 2014
  • Dawdling in dollars might backfire as clock ticks towards year end

    Sovereign, supranational and agency borrowers with dollar funding left to do in the last few weeks of the year may well wince at the new issue premia banks will advise them to pay to get deals done — particularly after months of strong demand and tight pricing. But there is no point hanging around for long waiting for conditions to improve, said SSA bankers this week.

    • 30 Oct 2014
  • EM prepares for big test with 11 deal onslaught ahead

    Corporate bond issues could come thick and fast from emerging markets over the next couple of weeks, with 11 borrowers — including one bank — on the road meeting investors and the deadline looming on November 15 for 144A sales, after which half year financials will go stale.

    • 30 Oct 2014
  • EDF shuns YieldCo, plans PE-like funds for green energy

    Electricité de France and Amundi are forming an unusual asset management joint venture, in some ways similar to a private equity firm, to channel investment into low carbon energy.

    • 30 Oct 2014
  • Numericable to finish SFR M&A financing with €4.7bn issue

    French cable firm Numericable on Wednesday set terms and opened the subscription period for a €4.7bn rights issue, in what constitutes the final tranche of the financing package for one of the largest M&A deals of the year so far — the takeover of mobile phone operator SFR.

    • 30 Oct 2014

People and Markets

  • BoE looks to bond syndicate in FICC review

    The Bank of England will be examining new issue bond syndication as part of its Fair and Effective Markets Review and will consider publishing final allocation data and using auction processes to set allocations.

    • 27 Oct 2014
  • Milken and Landis meet to talk old, but not jail times

    The audience for 'Junk Bond King' Michael Milken’s evening in conversation with John Landis, director of Trading Places, in London's Finchley Road on Wednesday gave no great shocks. Young men in suits sat to the front of the auditorium while more casually dressed ticket holders took up the space at the back.

    • 30 Oct 2014
  • Stanchart African loans specialist departs

    Standard Chartered has lost another senior banker from its loan syndications team in London, according to well placed sources.

    • 30 Oct 2014
  • Barclays heads back to health but investment bank shrinks

    Barclays’ drive back to health is on track – but its investment bank is a shrinking part of the story. That was the message of the bank’s third quarter results this morning, which produced a 1.5% pop in the share price at the open, soon eradicated as Barclays fell in line with the wider market.

    • 30 Oct 2014

GlobalCapital View

  • Bank of England’s climate quiz is a breakthrough

    By asking insurance companies how their business models are exposed to climate change, the Bank of England has made a big advance in the world’s response. Governments may drag their feet, but at last the world’s financial architecture is beginning to realise the reality of global warming.

  • Is €48bn a lot or a little?

    Europe’s banks misvalued their assets by €47.5bn. That is the verdict of the European Central Bank, after its examination of eurozone bank balance sheets. The scale and quality of the exercise has been impressive, and the market seems to like it. But is it just a big nothing?

  • Lion City's ECM market is struggling to roar

    Singapore this month took what it must hope is a big step forward in livening up its ECM market by overhauling the Companies Act. The move is certainly positive, but the city-state is mistaken if it thinks allowing dual-class structures will be the answer to its troubles. They are far more deeply rooted than that.

  • Confidence won’t last if banks don’t get busy

    A good appetite has long been seen as a sign of good health. And with the results of the European Central Bank’s comprehensive assessment showing that the eurozone’s banking system is, broadly speaking, healthy, banks need to start showing some of the signs of life they’ve been lacking since the crisis. Namely: lending.

  • Javelin’s Cawley joins BGC’s SEF as CEO

    James Cawley, founder and ex-CEO of Javelin Capital Markets in New York, has joined BGC Partners as CEO of its swap execution facility, also based in New York.

    • 30 Oct 2014
  • SG hires ex-BNPP strategy chief in EQD

    Kokou Agbo-Bloua, the ex-head of European equity and derivative strategy at BNP Paribas in London, has joined Société Générale as managing director, global head of engineering and strategy, also based in London.

    • 30 Oct 2014
  • Sterling credit head quits Jefferies

    Jefferies has lost its head of sterling credit sales.

    • 30 Oct 2014
  • BGC hires former ICAP credit bigwig

    Phil Cramp, ex-head of credit for Europe, Middle East and Africa at ICAP in London, is set to join BGC Partners as head of credit, repo and European government bonds in London from December 1.

    • 29 Oct 2014

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Global IB Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Oct 2014
1 JPMorgan 5,182.14 3870 7.97%
2 Goldman Sachs 4,261.53 2217 6.56%
3 Bank of America Merrill Lynch 4,260.79 3549 6.56%
4 Morgan Stanley 3,891.11 2801 5.99%
5 Deutsche Bank 3,574.95 2763 5.50%

Global M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Oct 2014
1 Goldman Sachs 1,483.35 400 9.36%
2 JPMorgan 1,269.13 322 8.01%
3 Morgan Stanley 1,017.18 339 6.42%
4 Bank of America Merrill Lynch 954.62 273 6.03%
5 Citi 849.07 296 5.36%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Oct 2014
1 JPMorgan 278,914.39 1111 7.98%
2 Barclays 251,894.67 869 7.21%
3 Citi 250,194.86 968 7.16%
4 Deutsche Bank 244,474.93 992 7.00%
5 Bank of America Merrill Lynch 240,849.72 857 6.89%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 28 Oct 2014
1 Deutsche Bank 48,610.51 125 7.60%
2 BNP Paribas 45,308.93 185 7.08%
3 Citi 34,756.99 97 5.43%
4 Credit Agricole CIB 31,024.72 128 4.85%
5 JPMorgan 30,825.29 75 4.82%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 28 Oct 2014
1 JPMorgan 23,809.73 114 9.33%
2 Goldman Sachs 22,933.11 77 8.98%
3 Deutsche Bank 20,595.54 76 8.07%
4 UBS 19,729.52 81 7.73%
5 Bank of America Merrill Lynch 19,079.80 69 7.47%