Top stories

  • Heathrow heads out of blackout and into sterling

    Heathrow Airport came out of its earnings blackout to issue a benchmark 33 year sterling bond from its secured funding programme on Tuesday, clinching a minimal new issue premium.

    • 26 Jul 2016
  • Post-Brexit single-Bs pay to play

    Since the UK's Brexit vote, the European high yield market has produced an abundance of single-B rated deals — even though issuers are paying dearly for their timing.

    • 26 Jul 2016
  • Glimmer of hope for ABS after UK RMBS restarts

    Reviving the UK RMBS market in the aftermath of the country’s vote to leave the European Union is seen as key to maintaining issuance levels in European ABS – but despite steady secondary trading and a market reopening deal, it is far from clear that this is possible.

    • 26 Jul 2016
  • Bank of America follows Wells into Aussie dollars

    Bank of America Corp returned to the Australian dollar market after a two year absence, with an A$750m ($565m) double tranche deal.

    • 26 Jul 2016

People and Markets

  • Goldman’s DCM boost came from secret securitization of Barclays portfolio

    Goldman Sachs’s excellent DCM numbers this quarter were driven in large part by the lucrative exit from a large book of ex-Barclays loans, sold from the British bank’s non-core division to a consortium including Goldman last autumn.

    • 21 Jul 2016
  • Europe's bail-in case leaves banks in limbo

    The European Court of Justice ruled on Tuesday that criteria set by the European Commission in 2013 for funnelling public money into ailing banks — requiring first a bail-in of private capital — are neither contrary to EU law nor binding on member states.

    • 19 Jul 2016
  • People Moves in Brief

    Jefferies CLO head leaves - DB names EMEA corpfin heads - Mizuho hires US fixed income trading head

    • 21 Jul 2016

Olly Copplestone's Cartoon

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Old Money

  • Old Money: what makes a financial centre?

    Financial centres come and go, but they're mostly very resilient. London's been near the top of its game since the Napoleonic Wars. Will it take Brexit in its stride?

    • 13 Jul 2016
  • Old Money: ‘Nobody told us we could do that’

    Predictions from both sides in Britain’s EU referendum suggest economic disaster if the country votes the ‘wrong’ way. But history shows the dangers of doom-mongering.

    • 16 Jun 2016
  • Old Money: Happy birthday Argentina

    Argentina made its debut in the international capital markets 192 years ago. It has managed eight defaults since then, so are things any different now?

    • 18 May 2016
  • Old Money: Rogues’ gallery

    ‘Rogue traders’ have struck again — Tijane Thiam, Credit Suisse’s chief executive, doesn’t seem sure quite how his traders ran up such large positions, but they’re being blamed for $750m of losses and writedowns since October 2015. The Swiss bank’s distressed debt desk joins a long line of unauthorised big losers stretching back four decades.

    • 20 Apr 2016

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2016
1 JPMorgan 224,809.92 893 8.72%
2 Citi 198,357.42 701 7.70%
3 Barclays 185,152.03 584 7.18%
4 Bank of America Merrill Lynch 179,762.77 612 6.97%
5 HSBC 161,839.60 645 6.28%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jul 2016
1 UniCredit 18,078.81 87 6.37%
2 HSBC 16,282.66 75 5.74%
3 SG Corporate & Investment Banking 14,434.20 68 5.08%
4 Barclays 14,301.22 27 5.04%
5 ING 13,320.97 84 4.69%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jul 2016
1 JPMorgan 9,517.56 52 9.58%
2 Goldman Sachs 8,816.07 50 8.87%
3 Citi 6,871.31 35 6.91%
4 Morgan Stanley 6,449.82 34 6.49%
5 UBS 6,126.84 31 6.16%