Falling margin fever threatens further EM slowdown

Bank lenders expressed renewed concerns this week that lending to emerging market borrowers will remain muted throughout the second quarter, with borrowers in Russia and the Middle East stalling deals as they wait for margins to fall further. Other borrowers have reduced capex programmes and are so flush with cash they are even prepaying last year’s loans.

  • 27 Apr 2010

This is despite what some officials described as an unprecedented flurry of requests for proposals (RFPs) coming their way, and bidding on new mandates remaining very active.

“In the background, there is a lot going on, and the deals you see happening are just the tip of the ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 7,171 21 10.72
2 Bank of America Merrill Lynch (BAML) 6,901 20 10.32
3 JP Morgan 4,776 10 7.14
4 Credit Suisse 4,718 9 7.05
5 Lloyds Bank 4,420 14 6.61

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1 Wells Fargo Securities 68,611.22 170 11.38%
2 Bank of America Merrill Lynch 59,056.08 169 9.80%
3 JPMorgan 56,861.85 163 9.43%
4 Citi 56,521.05 165 9.38%
5 Credit Suisse 44,888.95 123 7.45%