Top stories

  • Blockchain firms rise to loans settlement challenge

    Syndicated loans are becoming a focal point of firms looking to demonstrate the power of blockchain, or distributed ledger technology, with different initiatives ramping up and competing to solve the problem of lengthy settlement times in the private debt market.

    • 28 Sep 2016
  • BASF rebuilds curve in sterling

    BASF SE was on Wednesday set to become the first sterling issuer into the primary market with an outstanding bond that is already eligible for purchase under the Bank of England’s Corporate Bond Purchase Scheme, which kicked off on Tuesday.

    • 28 Sep 2016
  • Soc Gen returns as FIG sprouts green

    Société Générale returned to the green bond market with a five year issue on Wednesday, as the FIG market showed signs of stability despite continued speculation about the risks facing Deutsche Bank.

    • 28 Sep 2016
  • Oman 'wisely' locks down $1.5bn with chunky NIP

    Oman left a chunky new issue premium on the table with its latest $1.5bn bond sale, but with competing supply looming, and a market backdrop that included two pulled trades, EM bankers said it was a prudent move that resulted in a great trade and over $4bn of orders.

    • 28 Sep 2016
  • CK Hutchison sweeps dollars and euros

    Hong Kong-headquartered conglomerate CK Hutchison Holdings is readying a global sweep of debt markets to raise refinancing funds, announcing on Wednesday morning that it intends to sell a euro-denominated eight year senior unsecured bond just hours after announcing a dollar trade in Hong Kong.

    • 28 Sep 2016
  • Veolia nabs dual trancher after tough start to the week

    After a rocky beginning to the week that saw an offering from Lufthansa pulled — a rarity in the European corporate bond market — French transnational utility and service company Veolia managed to sell a total of €1.1bn in senior unsecured bonds across two tranches on Wednesday.

    • 28 Sep 2016
  • SNCF Réseau lines up dollar debut as ADB goes for tight print

    The dollar market for SSAs is set to spark into life on Thursday, with one issuer lining up a debut deal in the currency and another attempting to print at the lowest spread to mid-swaps this year.

    • 28 Sep 2016

People and Markets

  • European banks at a disadvantage, says UniCredit chief exec Mustier

    Jean-Pierre Mustier, chief executive of UniCredit, told GlobalCapital that US regulators do not really want foreign banks to have big operations in their domestic market, and he pointed to the unequal treatment of European banks in the US compared with US banks in Europe.

    • 21 Sep 2016
  • Waiting time for IBs is over

    Consultancy McKinsey said that investment banks can no longer wait for the business environment to improve, but need to restructure immediately.

    • 21 Sep 2016
  • Obituary: Robert Genillard, Eurobond pioneer

    Robert Louis Genillard, who died on September 18 at the age of 87, was one of the most visionary pioneers of the post-war international capital markets. In the 1950s he played a leading role in developing the emerging market of its day, Venezuela, and at the end of the 20th century had a successful second career as an industrialist. But it was for his critical role in developing the Eurobond market in the 1960s and 1970s that he will be best remembered.

    • 21 Sep 2016
  • Commerzbank chief asks for end to increasing capital

    Michael Reuther, head of Commerzbank’s corporates and markets unit, told GlobalCapital that the banking industry needed to see the “endgame, the final state” of its capital requirements, with an end to the new overlapping layers of extra capital requirements.

    • 22 Sep 2016
  • JP Morgan UK ECM banker moves to Numis

    A senior UK-focused equity capital markets banker at JP Morgan has left the bank to join Numis Securities as a managing director.

    • 19 Sep 2016

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Old Money

  • Old Money: Goodbye Great Britain

    The last round of IMF lending to developed market countries (before the European sovereign crisis) was 40 years ago this autumn — when Britain was locked out of the capital markets and had to go ‘cap in hand’ to the Fund.

    • 12 Sep 2016
  • Old Money: The Full Monte

    The world’s oldest bank has trodden a 500-year line between the sacred and the profane.

    • 10 Aug 2016
  • 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

The GlobalCapital View

  • What’s in a pulled deal?

    Pulled deals are traumatic for those involved but unlikely to derail European corporate bond issuance while the European Central Bank is still buying the market.

    • 27 Sep 2016
  • Easy money is an easy scapegoat for self-serving EU officials

    There's lots to criticise about the ECB's recent policies, but the brunt of responsibility for any failures lies squarely with the European Union’s various politicians. When they turn around and blame the central bank, it's pure opportunism.

    • 27 Sep 2016
  • Come on Angie, of course Deutsche gets a bailout

    Deutsche Bank jitters are spreading again, about seven months after the last round of panic washed over the troubled bank. The cause, this time, seems to be that German chancellor Angela Merkel ruled out a bailout, even if US regulators impose a settlement for RMBS misselling so large it threatens the solvency of the bank.

    • 27 Sep 2016
  • No GIFTS yet from India's finance hub

    India has made great strides with the setting up of its first international financial services centre. The move is laudable, and most of the market feedback has been positive. But the authorities should not get complacent — a lot more needs to be done before the centre becomes the go-to destination for international capital market participants.

    • 27 Sep 2016

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Sep 2016
1 JPMorgan 289,804.60 1219 8.81%
2 Citi 261,914.62 960 7.96%
3 Barclays 242,960.70 769 7.39%
4 Bank of America Merrill Lynch 234,940.65 844 7.14%
5 HSBC 199,787.93 812 6.08%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 JPMorgan 27,842.68 49 6.95%
2 BNP Paribas 27,066.67 131 6.76%
3 UniCredit 26,306.88 128 6.57%
4 HSBC 21,119.91 104 5.27%
5 ING 18,225.10 113 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 JPMorgan 13,539.40 70 10.98%
2 Goldman Sachs 10,577.65 57 8.58%
3 Morgan Stanley 9,254.31 46 7.50%
4 Citi 7,573.69 40 6.14%
5 Bank of America Merrill Lynch 7,346.61 35 5.96%