News Archive

  • Asia ECM round-up: Sampoerna, Coal India, CCCC Dredging, Al-Salam

    Cigarette maker Philip Morris flagged off pre-deal investor education for an up to Rph26.70tr ($1.92bn) follow-on transaction in its Indonesian subsidiary HM Sampoerna on September 2, with the process set to run for two weeks.

    02 Sep 2015

  • Vitol mandates for $7.5bn loan

    Oil trader Vitol has mandated five banks to lead its $7.5bn refinancing and will launch the deal imminently, according to a banker on the deal.

    02 Sep 2015

  • NBC relaunched as Canadians dominate again

    National Bank of Canada and Bank of Nova Scotia joined the list of Canadian banks heading for euros on Wednesday, but bankers say the market is there for Europeans that want to use it.

    02 Sep 2015

  • Mann takes credit ‘to the masses’

    Veteran credit strategist Suki Mann is back in the inboxes of investors and traders, after setting up a website called Credit Market Daily that he hopes will bring corporate bonds to a wider audience.

    02 Sep 2015

  • US banks still on top in investment banking

    Morgan Stanley’s banks research team argue that US banks are going to carry on consolidating their strength in investment banking, with EU banks losing market share even in their home markets.

    02 Sep 2015

  • Pricing revealed for rare issuer Yapi Kredi Leasing

    Yapi Kredi Leasing (YKL), the leasing arm of Turkey’s Yapi Kredi Bank, paid 2% over Libor for its latest $206m loan and will become a benchmark for the Turkish leasing sector, according to a banker close to the deal.

    02 Sep 2015

  • Poland pounces on Wednesday window

    Poland made sure CEEMEA was not left out of the September restart rush on Wednesday, but more traditional emerging markets are likely to be left sidelined until after the US Federal Reserve decides to raise interest rates, said debt bankers.

    02 Sep 2015

  • Albaraka Türk to boost deal beyond $400m

    Turkish participation bank Albaraka Türk will sign its murabaha loan next week and increase the deal from the $400m launch size, according to bankers on the deal.

    02 Sep 2015

  • Investment grade takes centre stage in bonds and loans

    The investment grade bond and loan markets embraced the September rush with gusto this week, but the high yield bond and leveraged loan sectors look like they need a little more time to limber up.

    02 Sep 2015

  • ECM’s blowout September in jeopardy as market volatility resumes

    Equity capital markets bankers hoping the beginning of the week would bring reassurance that the markets had recovered from last week’s volatility ordeal, and were ready to support a wave of September deals, have so far been disappointed.

    02 Sep 2015

  • Euros back in fashion as dollars get dodgy

    A remarkable turnaround is taking place in the SSA market, where after months of dollars being the go-to currency, euros are coming to the fore.

    02 Sep 2015

  • VEB looks for Panda bite in 2016

    Russia’s Vnesheconombank is in talks to sell Panda bonds, but the note will be placed next year at the earliest, said a source close to the borrower.

    02 Sep 2015

  • Secured markets favoured as vol slows FIG

    Covered bond activity has exploded into life this week, with the product better suiting the uncertain tone being created by the Chinese and US economies. But not all have been warmly received.

    02 Sep 2015

  • BTMU names new corporate banking head

    Bank of Tokyo-Mitsubishi UFJ has hired a former RBS executive as co-head of corporate banking for EMEA.

    02 Sep 2015

  • Gazprom plans October Eurobond

    Gazprom is planning to issue a Eurobond in the last quarter of this year, and has been in preliminary discussions for a size of €500m-€700m for the deal, according to a source with knowledge of the company’s plans.

    02 Sep 2015

  • Poland shoulders CEEMEA restart despite headwinds

    Falling oil prices, an abrupt end to a recent emerging market rally and the largest EM bond outflows since 2013 have not stopped Poland from attempting to end a five week CEEMEA benchmark drought.

    02 Sep 2015

  • LatAm finally adds to pipe as Terrafina eyes bond

    Mexican real estate investment trust — or REIT — Fibra Terrafina could become the first borrower from Latin America to bring much-needed bond supply in September as it turns to international markets for the first time.

    02 Sep 2015

  • RMB devaluation good in the long term despite redemptions, says E Fund

    Following the recent devaluation of the renminbi, E Fund Management suffered some redemptions from its RMB qualified foreign institutional investor (RQFII) funds. Despite that, a more market-driven FX pricing mechanism is positive for further development of RQFII in the long run, says Jeffrey Qi, portfolio manager at the world’s second largest RQFII quota holder.

    02 Sep 2015

  • Time for China to get a grip

    The Chinese authorities have made several steps towards the full opening of the capital account over the years. But mounting evidence of China’s economic slowdown has made those efforts look increasingly erratic. A step by step approach would be nothing to sneer at, but the authorities’ dance of reforms followed by shameless back-stepping risks transforming the whole business into a farce.

    02 Sep 2015

  • SPDB to kick off US$ bond roadshow this week

    Shanghai Pudong Development Bank Co (SPDB) is due to start roadshow for a proposed dollar bond this week.

    02 Sep 2015

  • BAML strengthens Apac IB team with Morgan Stanley hire

    Bank of America Merrill Lynch has bolstered its Asia Pacific investment banking team with a new hire from Morgan Stanley.

    02 Sep 2015

  • Bloomberg and Tradeweb ETPs go live as Japan brings in new rules

    Bloomberg Tradebook Japan has launched an electronic trading platform and Tradeweb Markets’ regulated marketplace for trading interest rate swaps in Japan has hosted its first trade in support of Japan’s new mandatory trading rules.

    01 Sep 2015

  • CMBS spreads under pressure as September rolls in

    A heavy September pipeline and market volatility are set to put pressure on new issue CMBS conduit spreads for the foreseeable future.

    01 Sep 2015

  • Chinese futures exchange cracks down on sellers again

    For the second time in a week, officials at the Shanghai Financial Futures Exchange on Friday implemented tougher rules for traders attempting to sell.

    01 Sep 2015

  • Symetis launches heart valve IPO for Sfr80m

    Symetis, a Swiss company that makes artificial heart valves, began investor education today for an IPO of up to Sfr80m on SIX Swiss Exchange.

    01 Sep 2015

  • VIX products tested by volatility surge

    Markets for VIX products suggest that many traders sold into last week's volatility spike, with mixed results.

    01 Sep 2015

  • Bank Pocztowy braves choppy market with ‘high quality’ IPO

    Rarely has confidence in equity markets been more savagely battered during August than this year. But hopes that issuance of new deals will be able to continue in the September-December season were raised today by the launch of investor education for two IPOs.

    01 Sep 2015

  • Ingenico drops on rumours of takeover bid for Worldpay

    The share price of Paris-listed Ingenico plummeted on Friday, even as the Cac 40 index rose, after it was reported that the firm was considering a merger with UK payment processing company Worldpay.

    01 Sep 2015

  • Macquarie hires Citi pair to launch shipping business

    Macquarie has hired two bankers from Citi to start a shipping finance business.

    01 Sep 2015

  • Equipment ABS leads post-summer pipeline

    John Deere Capital Corp and Commercial Credit Group Inc will be bringing equipment deals into the market after two weeks of low deal flow for the asset class.

    01 Sep 2015

  • SSA steps into dollars after last week’s ‘bloodbath’

    A eurozone agency is set to brave a dollar market that suffered volatility last week. And despite improved conditions, the issuer opted for a conservative maturity.

    01 Sep 2015

  • EIB aims to Earn place in euro recovery

    The European Investment Bank has lined up a euro benchmark that SSA bankers are praying will add to a strong €5bn deal from KfW last week — but the supranational is unlikely to aim for the same size as its German peer.

    01 Sep 2015

  • Don’t write off September for high yield just yet

    Predictions for European high yield bond issuance in September range from the optimistic to those who say the cupboard is bare. But do not underestimate the market's resilience — for the right deal, investors could come out in droves.

    01 Sep 2015

  • Portugal takes periphery lead — but curve options cut

    Portugal will become the first eurozone periphery sovereign to test the post-summer syndication market — but its choice of tenor has been limited by several weeks of turmoil in global markets.

    01 Sep 2015

  • SSE signals improved tone for corps

    UK energy company SSE opened up the week’s issuance for corporate bonds on Tuesday, overcoming less-than-ideal market conditions to gather a solidly oversubscribed order book for an eight year bond.

    01 Sep 2015

  • TenCate launches new deal, to be test of appetite for levfin

    TenCate, the Dutch textiles technology group, has broken the new issue silence in leveraged loans by beginning to market a €520m term loan. But bankers say a fairly empty September pipeline, coupled with heightened market volatility, could make the market's return to work more tentative than hoped.

    01 Sep 2015

  • KfW corker a sparkling example for euro deals

    Paying up to get size away in euros is a painful idea for public sector funding officials. But they will have to swallow their objections if they want to bring bulky deals in September.

    01 Sep 2015

  • Bright spot in oil market: Euronav bags $750m loan for new tankers

    Euronav, a Belgian oil tanker and storage firm, has signed a $750m secured loan, partly to buy new vessels to capitalise on a market for oil tanker services that is buoyant, despite the fall in the crude price.

    01 Sep 2015

  • JAB adds to pipeline

    Another issuer joined the corporate bond pipeline on Tuesday, as German investment company JAB Holdings hired banks for a roadshow.

    01 Sep 2015

  • European ABS market burns rubber after bank holiday

    The European structured finance market is getting off to an energetic post-summer start, with a UK auto ABS, a German auto ABS, a UK non-conforming RMBS, a UK prime RMBS and a Dutch prime RMBS all being prepared to hit the primary market.

    01 Sep 2015

  • Eesti Energia mandates for investor meetings

    Estonia's Eesti Energia is looking to print a euro denominated Reg S bond.

    01 Sep 2015

  • Akelius opens door to first euro HY bond

    Akelius Residential Property, the Swedish property group, will begin a roadshow on Monday September 7 for its first high yield bond in euros.

    01 Sep 2015

  • Canadians charge for euros

    Canadian Imperial Bank of Commerce and Toronto-Dominion Bank launched euro floaters on Tuesday morning, and bankers expect fellow North American banks to follow their lead in the next few sessions.

    01 Sep 2015

  • Russia's Norilsk Nickel heads out on the road

    Russian mining company Norilsk Nickel is undertaking series of investor update meetings in early September.

    01 Sep 2015

  • Russia’s Evraz steps forward with loans but NLMK still on hold

    Russian steelmaker Evraz signed two bilateral loans this month and is in the market for a bigger syndicated deal, according to bankers, while its competitor NLMK is still in talks with banks after trying to issue a syndicated loan for two years.

    01 Sep 2015

  • Lloyds leads line as FIG brushes off bears

    Lloyds Bank was at the head of a stack of FIG trades that hit the market on Tuesday, despite European stocks diving again on poor manufacturing data from China.

    01 Sep 2015

  • Yapi Kredi Leasing seals deal as parent bank kicks off refi

    The leasing arm of Turkey’s Yapi Kredi Bank, Yapi Kredi Leasing (YKL), has signed its first loan in eight years for $106m, as its parent company kicks of a $1.2bn refinancing.

    01 Sep 2015

  • The Impact of Collateral

    How collateral’s rise will profoundly impact markets

    01 Sep 2015

  • Jiangling Chassis: Another IPO bites the dust

    Jiangxi Jiangling Chassis Co’s IPO on the Singapore Exchange (SGX) is off the table, with the S$49m ($35m) transaction falling victim to the global sell-off in equity markets that took hold last week and saw investors running for the hills on all things China.

    01 Sep 2015

  • SEC could help stop sukuk slump

    Saudi Electricity Co has received approval from its executive committee for a new sukuk programme and a revolving credit facility. If the firm deploys the former this year it should help breathe life into a sukuk market that has lost much of its steam after a strong start to the year.

    01 Sep 2015

  • Ex-RBS FIG and securitization boss quits Virgin Money

    Lee Rochford has stepped down as chief financial officer of Virgin Money, effective immediately.

    01 Sep 2015

  • BAML adds to Asia ECM syndicate with London transfer

    Bank of America Merrill Lynch has added to its ECM syndicate desk in Hong Kong with an internal transfer, according to sources with knowledge of the move.

    01 Sep 2015

  • Chailease International mulls increasing $120m facility

    Taiwanese leasing company Chailease International Financial Service is considering raising the size of its borrowing marginally to $130m, after six banks joined the deal during syndication.

    01 Sep 2015

  • IOC sell-down: a dark day for India divestment

    The Indian government scored a big coup last week, selling a stake in Indian Oil Corp (IOC) on a day when markets globally were roiling in volatility. But the fact that it relied on the Life Insurance Corporation of India (LIC) to push the deal through is wrong, and casts a shadow on the country’s divestment programme.

    01 Sep 2015

  • Sadbhav Infra Rp4.9bn IPO safely anchored

    Sadbhav Infrastructure Project is poised to close its Rp4.9bn ($74m) IPO on September 2, safe in the knowledge that more than 40% of the deal has been taken up by anchor investors.

    01 Sep 2015

  • Barclays builds out Australian IB with M&A hire

    Barclays has made a clutch of new hires in Australia in recent months, with the latest being Duncan Hogg as its new head of M&A, as the bank looks to bolster its cross-border M&A, financing and associated risk management businesses.

    01 Sep 2015

  • Seoul makes leap as RMB hotspot for trade and investment

    The vast majority of payments from South Korea to China and Hong Kong are now processed in RMB, Swift said in its latest RMB Tracker report issued on September 1. A day earlier, the State Administration of Foreign Exchange (Safe) said it had added three new Seoul-based institutional investors to the RMB qualified foreign institutional investor (RQFII) programme in August, with 60% of the Rmb80bn ($12.4bn) country quota now distributed.

    01 Sep 2015

  • Moody’s smacks Mexico ICA with negative outlook

    After “particularly ugly” second quarter results, according to one bank’s credit analyst, Moody’s confirmed on Monday that Mexican construction group Empresas ICA’s turnaround was short-lived by placing its B2 rating on negative outlook.

    01 Sep 2015

  • CS gets new Chile head

    Credit Suisse has named Jorge Eduardo Díaz Barros as Chilean country head after hiring the banker from JP Morgan.

    01 Sep 2015

  • Nomura, Manulife AM rejig wealth management teams

    Nomura has appointed Chee Pin Lee as the head of financial products and solutions for wealth management, Asia ex-Japan, in what is a newly created role at the bank.

    01 Sep 2015

  • Total Derivatives: Is a sharp equity rebound in China due?

    Recent moves by China to shore up risk sentiment include allowing state pension funds to buy equities, injecting liquidity and directing banks to buy CNY. A swap market source suggests that equities are due for a significant rebound in the near-term and that the swap curve will steepen, writes Deirdre Yeung of Total Derivatives.

    01 Sep 2015

  • Ropes & Gray bolsters private equity unit with new hire

    Law firm Ropes & Gray has strengthened its private equity practice, hiring Daniel Yeh as a partner in the Hong Kong office.

    01 Sep 2015

  • Seven join AsiaSat $240m dividend recap

    A $240m dividend recapitalisation loan for Asia Satellite Telecommunications' (AsiaSat) sponsor Carlyle has seen seven banks commit so far, with one more lender awaited.

    01 Sep 2015

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 31 Aug 2015
1 JPMorgan 243,969.85 964 8.84%
2 Bank of America Merrill Lynch 210,446.44 761 7.63%
3 Citi 205,935.79 792 7.47%
4 Barclays 203,416.66 665 7.37%
5 Deutsche Bank 169,399.16 717 6.14%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Sep 2015
1 HSBC 32,368.00 126 7.61%
2 BNP Paribas 28,138.91 163 6.62%
3 Deutsche Bank 23,183.31 112 5.45%
4 JPMorgan 22,530.82 53 5.30%
5 Credit Agricole CIB 19,896.43 97 4.68%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 18,546.79 60 10.27%
2 UBS 18,071.09 62 10.01%
3 JPMorgan 14,894.81 76 8.25%
4 Bank of America Merrill Lynch 14,330.10 59 7.94%
5 Morgan Stanley 13,773.06 64 7.63%