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  • EU to tap for Ukraine cash as ESM completes 2014 funding

    The European Union will this week tap its most recent bond to fund more lending to Ukraine, after mandating banks for a deal on Tuesday. The mandate came as the European Stability Mechanism completed its bond business for 2014 with its second ever tap.

    • 25 Nov 2014
  • Ethiopia set for transformational sovereign debut

    Ethiopia is meeting investors for its long touted dollar bond debut. The strong African growth story, diversification play and JP Morgan EMBI eligibility left bankers in no doubt that demand for the offering will be robust, but debate has already started over where the deal will be priced versus neighbouring Kenya, which is also in the market.

    • 25 Nov 2014
  • Glaxo wins big book for €2.5bn after five year absence from euros

    GlaxoSmithKline has returned to the euro bond market after a five year absence with a big double tranche transaction. The UK pharmaceutical company priced €1.5bn of five year and €1bn of 10 year bonds on Tuesday.

    • 25 Nov 2014
  • Denmark’s retail investors grow wary of private equity IPOs

    Retail investors in Denmark are becoming fearful of investing in IPOs of private equity-owned businesses after the sudden collapse this month of shipping fuel supplier OW Bunker.

    • 24 Nov 2014
  • HSBC shuts down NY public sector DCM

    HSBC has shifted the public sector DCM coverage it had in New York to London. The move affects Kevin Galligan, who was told of the decision last week, it is understood.

    • 24 Nov 2014
  • Kenya initial price thoughts offer 20bp NIP for tap

    The Republic of Kenya has released initial price thoughts for a tap of its $500m 2019s and $1.5bn 2020s that equate to a 20bp new issue premium. The tap will be priced later on Tuesday.

    • 25 Nov 2014
  • Nomura looks to sell five year as sterling arbitrage improves

    Nomura was the sole financial credit to look at the primary market on Tuesday, making a rare appearance in sterling to sell a five year deal. Attractive arbitrage options could lead other issuers to look at sterling later in the week, according to some FIG syndicate managers.

    • 25 Nov 2014
  • Amadeus's €400m three year bond is music to investors' ears

    Spanish IT company Amadeus priced a €400m three year bond on Tuesday. Demand was strong, with the no grow transaction nearly six times oversubscribed.

    • 25 Nov 2014

People and Markets

  • Op risk avalanche starts to roll with RBS fines

    Fines UK authorities imposed on Royal Bank of Scotland could herald a much greater focus from bank overseers on operational risk — and the willingness to use penalties to keep banks in line.

    • 20 Nov 2014
  • DCM veteran returns to the market to co-head UBS corporates

    A veteran primary markets banker has returned to the market after a 20 month hiatus to co-head EMEA corporate debt capital markets at UBS.

    • 20 Nov 2014
  • UK’s bonus cap challenge binned

    The UK’s challenge to European Union’s bonus cap for bank employees has been ditched, after the advocate general for the highest court in the EU said the law was valid. UK authorities had fought against the limits, with the Bank of England arguing that it made banks weaker by raising fixed costs.

    • 20 Nov 2014
  • Financial Policy Committee’s Taylor skewers AT1

    Martin Taylor, an external member of the Bank of England’s Financial Policy Committee, on Wednesday night delivered a broadside attacking the additional tier one market as it exists today, in a speech to the Oliver Wyman Institute.

    • 20 Nov 2014

GlobalCapital View

  • The SSA market has changed — and banks will be welcomed back

    When UBS exited the supranational and agency bond business in 2012 there were justifiable concerns that more and more dealers, straining under the cost of supporting this most important part of the capital markets, would follow suit. But the sector has changed — and even those dealers that left clients in the lurch should not be afraid to rebuild old relationships. They may even find themselves welcomed back with open arms.

  • Daddy isn’t superman: Accepting the limits of easing

    Somewhere on this blue earth, there is probably a tear-stained drawing of Ben Bernanke in billowing red cape and blue spandex suit with the acronym ‘QE’ emblazoned on his powerful chest.

  • There’s a hidden warning in the Petrobras scandal — and it has nothing to do with corruption

    Bonds of Brazilian corporates affected by the Petrobras corruption scandal have flunked in the last week. But prices jumping about at such speed tells us less about the credits in question than about a broader market malaise.

  • Taking it slowly is the right approach for CGIF

    In the four years since it was set up, the Asian Development Bank’s Credit Guarantee & Investment Facility (CGIF) has only brought four issuers to sell bonds. While some may view this level of activity as a failure, if you look beyond the numbers it’s clear CGIF wants to make a long term impact rather than a short term buzz.

  • Agarwal and Williams to co-head Credit Suisse’s market solutions group

    Sandeep Agarwal, head of EMEA debt capital markets and Nick Williams, head of EMEA equity capital markets, will become co-heads of the EMEA global markets solutions group (GMSG), the wider structure that includes ECM, DCM, leveraged finance, equity derivatives, debt derivatives, restructuring, liability management and ratings advisory.

    • 20 Nov 2014
  • Nomura’s EMEA boss Bennett quits

    Jeremy Bennett, Nomura’s EMEA CEO, resigned from the bank this week to pursue other opportunities in the charitable sector and in emerging markets.

    • 20 Nov 2014
  • OCC taps First Midwest chief as CFO

    Kimberly McGarry, ex-senior vp and chief accounting officer at First Midwest Bank, has joined the Options Clearing Corporation as senior vp president and chief financial officer.

    • 19 Nov 2014
  • BNPP restructures CIB, Janbon steps back as fixed income head

    Yann Gerardin has overseen a radical restructuring of BNP Paribas's corporate and investment bank following his appointment as its head last month.

    • 19 Nov 2014

Southpaw

Leaders

More Stories

Global IB Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Nov 2014
1 JPMorgan 5,533.36 3911 7.94%
2 Bank of America Merrill Lynch 4,652.14 3850 6.68%
3 Goldman Sachs 4,631.33 2364 6.65%
4 Morgan Stanley 4,146.34 2978 5.95%
5 Deutsche Bank 3,820.14 2946 5.48%

Global M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Nov 2014
1 Goldman Sachs 3,126.60 440 0.00%
2 JPMorgan 2,710.63 350 0.00%
3 Morgan Stanley 2,109.12 363 0.00%
4 Bank of America Merrill Lynch 2,070.67 298 0.00%
5 Citi 1,733.85 314 0.00%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Nov 2014
1 JPMorgan 298,805.91 1181 8.14%
2 Barclays 268,207.66 919 7.30%
3 Citi 262,519.94 1020 7.15%
4 Deutsche Bank 259,366.94 1042 7.06%
5 Bank of America Merrill Lynch 253,285.00 906 6.90%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Nov 2014
1 Deutsche Bank 50,391.33 134 7.40%
2 BNP Paribas 47,024.00 196 6.90%
3 Citi 37,662.62 104 5.53%
4 HSBC 32,812.42 174 4.82%
5 Credit Agricole CIB 32,328.17 135 4.75%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Nov 2014
1 JPMorgan 24,215.02 117 9.07%
2 Goldman Sachs 23,224.16 78 8.70%
3 Deutsche Bank 20,943.82 79 7.85%
4 UBS 20,462.41 83 7.67%
5 Bank of America Merrill Lynch 19,151.02 70 7.17%