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Capital Markets News, Data & Analysis

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  • Big week for CMBS as Westfield relaunch follows Tulip pricing

    Crédit Agricole and Deutsche Bank on Tuesday relaunched the £750m Westfield CMBS they were forced to pull in the summer amid poor demand and regulatory concerns, the morning after Deutsche Bank priced the first multi-loan and multi-sponsor Dutch CMBS since the crisis.

    • 30 Sep 2014
  • S&P takes axe to sub debt

    Standard & Poor's announced on Monday that it has downgraded almost 90% of the sub debt it rates issued by European financials, responding to increased risk of coupon deferral and bail-in.

    • 30 Sep 2014
  • Wesfarmers grows bond to €600m in volatile market

    Australian retailer Wesfarmers managed to attract a €1.2bn book for its seven year bond on Tuesday, allowing it to increase the size from an expected €500m to €600m while still paying a new issue premium of 5bp or less.

    • 30 Sep 2014
  • ECB under German fire as ABS details emerge

    No sooner had European Central Bank president Mario Draghi outlined more details of the ECB’s proposed ABS purchases this week, limiting senior bond purchases to those eligible for repo, than German finance minister Wolfgang Schäuble was making doubly clear his country’s opposition to the plan.

    • 25 Sep 2014
  • Blocks fall victim to new ECM caution as markets turn rocky

    Disappointing secondary and primary markets are leading to increased caution among ECM investors, two deals showed this week, as accounts enter large, liquid and well known stocks that are easy to escape in a crisis — and disregard smaller ones.

    • 25 Sep 2014

People and Markets

  • RBS lays out loan markets structure for EMEA

    RBS has laid out plans for its European loans business, outlining the management structure working for head of loan markets and client management Dave Rome.

    • 30 Sep 2014
  • Exotix snatches new head of IB from Morgan Stanley

    Exotix Partners has appointed a new head of investment banking for Europe, the Middle East and Asia (EMEA).

    • 29 Sep 2014
  • Société Générale turns on capital taps

    Société Générale is ready to allocate more capital to its investment banking and lending businesses. The capital-light “originate-to-distribute” model which has prevailed as European banks have deleveraged is still delivering returns at SG, but the bank is willing to use more balance sheet to fuel the business.

    • 25 Sep 2014
  • TD Securities eyes sterling in DCM expansion

    TD Securities has been on a mission. From its profitable but limited redoubt covering the niche currencies, it has fought its way into one of the biggest, toughest markets in fixed income — that for dollar agencies.

    • 24 Sep 2014

GlobalCapital View

  • Don't be afraid of accountability: Make bank complaints public

    The Consumer Financial Protection Bureau wants to make written complaints public on its online consumer complaints database. Unsurprisingly, the Mortgage Bankers Association objects. But when online customer reviews have empowered consumers in other sectors, why should the banking industry get special treatment?

  • How to turbocharge green bonds

    For the green bond market to flourish, it must be fully viable and survive without public sector support. But governments in developed countries have a clear deadline by which they have to make serious cuts to emissions and raise serious funds to help developing countries do the same — so any support to the burgeoning market in that time should be palatable.

  • Covered bond harmonisation has real teeth

    Harmonising covered bond standards tends to make eyes glaze over. The myriad different regimes and labyrinth of technicalities involved, can seem baffling and trivial. But it would be a mistake to believe the project is an open-ended soft option that will never really happen.

  • EBRD appoints Bosnia and Herzegovina head

    The European Bank for Reconstruction and Development has appointed Ian Brown as head of its office in Bosnia and Herzegovina, starting Wednesday.

    • 12:00 PM
  • PineBridge hires structured credit expert

    PineBridge Investments, a global asset manager overseeing around $73bn, has hired a veteran structured credit trader and investor with a background in CLOs as a portfolio manager in its New York office.

    • 29 Sep 2014
  • BNPP promotes Okazawa to head of Apac equity derivs distribution

    BNP Paribas has promoted Kyoya Okazawa to be head of equity derivatives distribution, global equities and commodities derivatives (GECD), for Asia Pacific. Okazawa will add this role to his current position as the head of GECD for Japan.

    • 29 Sep 2014
  • Newedge taps ex-MS clearing bigwig

    Jamie Gavin, ex-executive director of operations and global head of change for listed derivatives and over-the-counter clearing at Morgan Stanley, has joined brokerage Newedge as head of institutional OTC clearing sales for the UK.

    • 26 Sep 2014

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Leaders

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Global IB Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 29 Sep 2014
1 JPMorgan 4,724.11 3561 8.02%
2 Goldman Sachs 3,904.95 2044 6.63%
3 Bank of America Merrill Lynch 3,858.28 3220 6.55%
4 Morgan Stanley 3,453.42 2580 5.86%
5 Deutsche Bank 3,245.07 2533 5.51%

Global M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 29 Sep 2014
1 Goldman Sachs 1,310.40 373 9.38%
2 JPMorgan 1,141.53 295 8.17%
3 Morgan Stanley 839.22 316 6.01%
4 Bank of America Merrill Lynch 822.89 249 5.89%
5 Citi 714.36 269 5.11%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 29 Sep 2014
1 JPMorgan 254,655.78 1002 7.90%
2 Barclays 234,653.49 808 7.28%
3 Deutsche Bank 230,967.73 925 7.16%
4 Citi 228,452.88 872 7.08%
5 Bank of America Merrill Lynch 222,858.56 797 6.91%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 Sep 2014
1 BNP Paribas 43,029.37 176 7.81%
2 Credit Agricole CIB 28,908.16 119 5.25%
3 Barclays 27,675.38 104 5.02%
4 HSBC 26,396.27 153 4.79%
5 RBS 24,957.38 97 4.53%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 Sep 2014
1 JPMorgan 23,277.24 110 9.53%
2 Goldman Sachs 21,712.39 71 8.89%
3 Deutsche Bank 20,182.44 72 8.26%
4 UBS 18,830.85 76 7.71%
5 Bank of America Merrill Lynch 18,384.22 64 7.53%