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
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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
  • Today
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jul 2017
1 HSBC 25,385.87 103 7.10%
2 Deutsche Bank 25,125.19 81 7.03%
3 Bank of America Merrill Lynch 22,023.57 59 6.16%
4 BNP Paribas 18,766.65 109 5.25%
5 Credit Agricole CIB 18,157.63 105 5.08%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 12,578.87 55 8.17%
2 Citi 11,338.07 71 7.36%
3 UBS 10,682.06 44 6.93%
4 Goldman Sachs 10,419.53 53 6.76%
5 Morgan Stanley 10,194.88 57 6.62%