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  • Russia sanction fears hitting Middle Eastern loans

    The fallout from the US sanctions on Russia has spread to wider emerging markets this week, as some banks have started insisting on the inclusion of sanctions language in the documentation for new loans for companies outside of eastern Europe.

    • 22 Jul 2014
  • Saudi Arabia's move to open up stock market welcomed with caution

    Saudi Arabia’s financial regulator’s announcement on Tuesday that its stock market would be opened to international investors was welcomed by bankers across the markets, but their excitement was tempered by caution until more details of the reforms are revealed.

    • 22 Jul 2014
  • CS to exit commodities trading, US fines cause profits to tank

    Credit Suisse announced plans to wind down its commodities trading business on Tuesday, using the resources to support the bank’s more profitable units. The decision follows CS reporting a hefty pre-tax loss, caused by a large fine from US regulators.

    • 22 Jul 2014
  • Italian SMEs cut out banks with first minibond ABS

    A group of eight Italian water utility companies have issued asset-backed securities backed by their own minibonds, in a novel technique that its structurers hope can be replicated to unlock funding for small and medium-sized companies throughout Europe and offer them an alternative to bank borrowing.

    • 22 Jul 2014

Derivatives

  • ESMA eye Main and Crossover CDS for clearing

    European untranched index credit default swaps on the iTraxx Main and iTraxx Crossover are set to become subject to the clearing obligation, according to the European Securities and Markets Authority.

    • 14 Jul 2014
  • Markit moves to towards IOSCO benchmark compliance

    Markit aims to become fully compliant with the International Organization of Securities Commission’s principles for financial benchmarks by the end of the year.

    • 14 Jul 2014
  • CFTC pauses SEF permanent registration

    The US Commodity Futures Trading Commission has put on hold issuing permanent registration for over-the-counter derivative swap execution facilities, as the new chairman and commissioners take up their posts and review the regulator’s processes.

    • 14 Jul 2014

Securitization

  • Portuguese RMBS spikes amid BES mess

    Senior Portuguese RMBS bonds have found buyers at a level some 30bp wider in spread terms than they were before investors lost faith in the health of Banco Espírito Santo last week, while some offered Spanish RMBS have struggled to find suitable homes, traders told GlobalCapital this week.

    • 17 Jul 2014
  • Premium collapses on Fannie’s latest risk-sharing deal

    Fannie Mae has issued a second round of price guidance after seeing weaker than expected demand for the senior notes in this week’s $2.1bn risk-sharing issuance with private investors.

    • 17 Jul 2014
  • BlackRock preps $4.4bn auction after mega subprime sale

    BlackRock will manage next Tuesday a $4.38 billion sale of Alt-A residential mortgage-backed securities in a second and even bigger sale than the record $3.7bn subprime RMBS sale it managed for UBS AG this week.

    • 17 Jul 2014

People and Markets

  • BAML loses co-head of EMEA levfin

    David Ross, co-head of European leveraged capital markets at Bank of America Merrill Lynch, has left the firm, GlobalCapital has learned, while three more junior leveraged finance bankers also quit earlier this month.

    • 17 Jul 2014
  • Bostandjiev quits VTB, Hutt appointed interim CEO

    Atanas Bostandjiev will be leaving his position as VTB Capital’s international CEO to pursue other business opportunities. Nick Hutt has been appointed interim CEO.

    • 17 Jul 2014
  • Assenagon appoints senior fund advisor

    Christian Maria Kreuser, co-founder of Quirin, a German private bank, has been appointed senior advisor for fund management and structured investment management at Assenagon asset management in Munich.

    • 16 Jul 2014
  • People moves in brief

    McLaughlin quits CIFC – Nomura and Citi raid Credit Ag for MTNs – Shankardass heads to HSBC – McDonald joins NBAD

    • 17 Jul 2014

GlobalCapital View

  • With time, the Royal Mail IPO looks less like a failure

    Public outrage is a lot faster than the digestion of an IPO. But thanks to a timely profit warning, at last they're getting in sync.

  • Corporate green loans make little sense without green lenders

    UK supermarket chain J Sainsbury has signed what it has called the first ever corporate green loan. But aside from some positive PR for the firm, it’s hard to see the direct benefits the green label will provide to lenders or borrowers in the loan market.

  • Don't knock EFSF's divisive strategy

    The European Financial Stability Facility, fresh from hitting the bid for short-dated bonds with a one year early this month, went to the other extreme and set out with a debut 30 year on Tuesday. With blow-out deals at the extreme ends of the curve it is proving itself to be a savvy issuer.

  • Mauritian bid to be African sukuk hotspot stacks up

    Islamic bankers don’t need new excuses to travel to the world’s sunnier climes, but meetings in Mauritius next to its pristine coral sand beaches could soon become a feature of the market – and not just for obvious reasons.

  • Pre-soundings in focus for new market abuse paper

    Primary markets bankers could face a raft of new prescriptions on how they conduct pre-soundings, following proposed technical standards from the European Securities and Markets Association to implement the EU’s new Market Abuse Regulation.

    • 17 Jul 2014
  • ESMA consults on covered bond swap carve out

    The European Securities and Markets Authority (ESMA) has published a consultation document that sets out the key factors that determine whether a covered bond swap should be excluded from central clearing. ESMA’s proposals mirror those set out by the European Banking Authority that were published in April.

    • 17 Jul 2014
  • US investment banks shrug off collapsing volumes

    All of the big US investment banks have beaten grim expectations for their fixed income trading divisions, despite a collapse in volumes far more severe than that in the first quarter and volatility that is still on the floor, writes Owen Sanderson.

    • 17 Jul 2014
  • BAML defies FICC gloom but litigation crushes profit

    Bank of America Merrill Lynch became the first US bank this year to post a year-to-date rise in revenue from their fixed income, currencies, and commodities business, announced in their second quarter earnings report on Wednesday.

    • 17 Jul 2014

Asia

More Stories

Global IB Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jul 2014
1 JPMorgan 3,670.45 2794 8.19%
2 Goldman Sachs 3,047.69 1627 6.80%
3 Bank of America Merrill Lynch 2,899.34 2464 6.47%
4 Morgan Stanley 2,628.81 1987 5.87%
5 Deutsche Bank 2,445.80 1935 5.46%

Global M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jul 2014
1 Goldman Sachs 1,056.35 302 10.31%
2 JPMorgan 929.99 240 9.08%
3 Morgan Stanley 636.53 250 6.21%
4 Bank of America Merrill Lynch 600.70 209 5.86%
5 Barclays 534.19 183 5.21%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jul 2014
1 JPMorgan 206,119.24 768 7.99%
2 Barclays 197,009.75 660 7.64%
3 Deutsche Bank 185,589.88 731 7.20%
4 Citi 180,289.40 670 6.99%
5 Bank of America Merrill Lynch 168,848.11 598 6.55%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 30,619.52 128 7.74%
2 Credit Agricole CIB 22,088.50 82 5.58%
3 HSBC 19,705.60 104 4.98%
4 UniCredit 19,229.33 92 4.86%
5 Commerzbank Group 18,774.69 107 4.75%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,623.08 89 9.25%
2 Goldman Sachs 19,369.43 59 9.13%
3 Deutsche Bank 18,401.12 61 8.68%
4 UBS 16,522.25 60 7.79%
5 Bank of America Merrill Lynch 16,020.48 53 7.55%
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