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Emerging Markets

Thomas Cook flop shows Islamic finance limitations

The UK’s Thomas Cook Group has failed in its attempt to issue what would have been the first Islamic bond for a European company. The deal itself had big problems including an unknown bookrunner managing it and stormy markets to contend with. But the sukuk’s collapse also raises questions over the depth of the Islamic finance market and how open it is to non-local issuers.

  • 13 Jul 2010

The European follow-up to the first sukuk issue by a US company — a $500m Islamic bond successfully sold by GE Capital last November — has turned out to be a resounding flop.

UK travel firm Thomas Cook’s attempt to bring out the first ever sukuk by a ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 May 2015
1 HSBC 19,980.34 117 10.70%
2 Citi 18,327.47 91 9.82%
3 Deutsche Bank 12,988.13 69 6.96%
4 Bank of America Merrill Lynch 12,231.12 59 6.55%
5 JPMorgan 12,160.39 56 6.51%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 May 2015
1 Morgan Stanley 5,462.86 12 12.59%
2 HSBC 5,260.01 14 12.12%
3 Bank of America Merrill Lynch 5,080.10 15 11.71%
4 Citi 5,037.74 18 11.61%
5 Deutsche Bank 4,073.08 12 9.39%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 May 2015
1 Citi 4,665.70 26 11.08%
2 HSBC 3,845.36 20 9.13%
3 SG Corporate & Investment Banking 3,040.84 11 7.22%
4 JPMorgan 2,929.19 11 6.96%
5 Barclays 2,485.68 9 5.90%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 May 2015
1 Goldman Sachs 380.55 64 9.94%
2 JPMorgan 308.03 53 8.05%
3 Lazard 274.32 59 7.16%
4 Deutsche Bank 255.89 41 6.68%
5 Bank of America Merrill Lynch 238.66 44 6.23%

Bookrunners of Central and Eastern Europe: Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 May 2015
1 First Gulf Bank PJSC 1,248.86 4 16.23%
2 ING 622.38 6 8.09%
3 SG Corporate & Investment Banking 608.35 6 7.91%
4 UniCredit 547.29 6 7.11%
5 BNP Paribas 402.44 3 5.23%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 May 2015
1 AXIS Bank 2,639.17 60 15.07%
2 Trust Investment Advisors 1,838.13 59 10.50%
3 Standard Chartered Bank 1,834.61 28 10.48%
4 ICICI Bank 1,413.14 35 8.07%
5 Barclays 1,366.97 20 7.81%