Forderbanks step up the pace as Landesbanks fall away

Of the 16 German regional development banks, NRW.Bank and L-Bank are by far and away the clear leaders when it comes to international bond issuance, having secured hard-fought reputations as agency issuers. However, their lead is expected to narrow as other state governments face up to increased funding requirements and encourage their own Förderbanks to look beyond domestic Schuldscheindarlehen and bearer bonds. Philip Moore reports.

  • 12 Sep 2008

While Germany’s Landesbanks have increasingly resembled endangered species in the international capital market since the loss of their government guarantees in 2005 — most notably in the unsecured market — the same can scarcely be said of the largest of Germany’s regional Förderbanks (development banks).

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 352,540.12 1323 9.09%
2 Bank of America Merrill Lynch 315,574.44 1093 8.13%
3 JPMorgan 314,826.88 1433 8.11%
4 Goldman Sachs 234,193.07 776 6.04%
5 Barclays 226,473.92 879 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 34,312.86 161 6.59%
2 Deutsche Bank 34,194.98 116 6.57%
3 Bank of America Merrill Lynch 31,113.25 94 5.98%
4 BNP Paribas 27,479.75 167 5.28%
5 SG Corporate & Investment Banking 23,982.83 136 4.61%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,536.02 78 8.91%
2 Morgan Stanley 16,323.54 83 7.44%
3 Citi 15,667.80 92 7.14%
4 UBS 15,208.47 58 6.94%
5 Goldman Sachs 13,487.36 72 6.15%