KfW’s Eu4bn ‘dream ticket’ DT sale ends in nightmare

KfW's Eu4bn sale of shares in Deutsche Telekom on Monday was meant to be one of the highlights of the year for the European equity capital markets. But the deal turned sour as an aggressive auction and a flawed sale of warrants put off investors.

  • 15 Oct 2004

Equity bankers say it is likely to have hurt the equity market reputation of KfW, the German development bank ? and perhaps those of the leads, Citigroup, JP Morgan and Morgan Stanley.

Before the deal KfW had a reputation as one of Europe's most investor ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Mar 2017
1 Bank of America Merrill Lynch 10,650.87 23 11.13%
2 Deutsche Bank 8,169.49 17 8.53%
3 HSBC 6,243.46 23 6.52%
4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 28 Mar 2017
1 JPMorgan 6,305.34 22 10.84%
2 Deutsche Bank 4,468.97 23 7.68%
3 UBS 4,270.64 20 7.34%
4 Citi 3,833.33 28 6.59%
5 Goldman Sachs 3,788.75 20 6.51%