Not getting enough for their money: treasurers mull self-arranged bonds

Quite a lot for not very much: this is how corporate treasurers are starting to view the fees they pay out to banks to raise money for them in the capital markets. With corporate paper in such demand, and companies already well connected to investors, banks will have to work harder than ever to justify their place in the food chain, writes Nina Flitman.

  • 10 Aug 2012

It’s not enough that corporates are out-performing their banks in almost every area of the markets — now they think they might be able to do the bankers’ own jobs better as well.

Corporate bonds are in such strong demand that some issuers think they could self-arrange deals and ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

Bookrunners of Global Structured Finance

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1 Citi 99,250.27 279 13.04%
2 Bank of America Merrill Lynch 92,153.61 267 12.10%
3 Wells Fargo Securities 72,661.39 222 9.54%
4 JPMorgan 52,367.24 169 6.88%
5 Credit Suisse 41,885.89 127 5.50%