Mandatory convertibles set to go mainstream following ArcelorMittal’s blockbuster

ArcelorMittal took $2.25bn from the mandatory convertible bond market, and a further $1.75bn in straight equity, this week in a deal that bankers hope will be replicated by other large-cap European firms seeking capital, writes Nick Jacob.

  • 11 Jan 2013

The strength of demand for mandatories from specialist US investors on top of a broader array of buyers in the US and Europe — first accessed by Volkswagen in its November 2012 deal — makes the market an essential agenda item for firms raising capital, they say.

"The ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 May 2016
1 JPMorgan 168,700.82 659 8.51%
2 Citi 149,928.97 517 7.56%
3 Barclays 147,180.02 444 7.42%
4 Bank of America Merrill Lynch 143,863.30 474 7.25%
5 HSBC 127,697.03 483 6.44%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 13,139.45 53 7.44%
2 HSBC 10,652.65 43 6.03%
3 Barclays 10,474.57 11 5.93%
4 Morgan Stanley 9,604.70 6 5.44%
5 Citi 9,361.42 29 5.30%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2016
1 Goldman Sachs 5,755.03 35 9.07%
2 JPMorgan 5,540.75 33 8.73%
3 Citi 4,580.99 26 7.22%
4 UBS 4,345.11 20 6.85%
5 Morgan Stanley 4,152.81 20 6.55%