Rated CPPI Pipeline Swells

Portfolio managers and ratings analysts said the pipeline for fully-rated credit constant proportion portfolio insurance deals is swelling and inquiries are picking up.

  • 22 Sep 2006
Email a colleague
Request a PDF

Portfolio managers and ratings analysts said the pipeline for fully-rated credit constant proportion portfolio insurance deals is swelling and inquiries are picking up. Peter Meijer, v.p. in synthetic structured credit at JPMorgan in London, said interest in the USD4 billion CPPI market is especially strong among institutional investors, which traditionally account for only about 40% of the investor base. Under Basel II, bank investors will need a rating for both the principal and coupon of credit investments.

Alexandre Linden, director at Fitch Ratings in London, said there is also interest in constant proportion debt obligations, a CPPI variant in which the coupon is rated, but the principal is not protected. "This is the busiest time ever," he said, adding several deals are ready to close this month.

  • 22 Sep 2006

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
  • 16 May 2017
1 Deutsche Bank 19,381.65 47 8.82%
2 Bank of America Merrill Lynch 18,968.25 36 8.63%
3 HSBC 18,103.95 50 8.24%
4 BNP Paribas 8,911.57 55 4.05%
5 SG Corporate & Investment Banking 8,885.00 54 4.04%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2017
1 JPMorgan 8,714.26 35 8.36%
2 UBS 8,283.47 33 7.95%
3 Goldman Sachs 7,736.57 37 7.42%
4 Citi 6,897.11 46 6.62%
5 Bank of America Merrill Lynch 6,215.31 24 5.96%