CPPI Coupon Ratings Top Dealers' Wish List

Dealers are asking rating agencies to rate the coupon component of constant proportion portfolio insurance notes because more ratings-based investors are looking to buy into the credit strategy.

  • 16 Jun 2006
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Dealers are asking rating agencies to rate the coupon component of constant proportion portfolio insurance notes because more ratings-based investors are looking to buy into the credit strategy. Dealers say ratings would grow the investor base for the product and allow them to tap retail players who are big buyers of capital-protected risk.

At present, agencies rate only the likelihood of an investor getting principal back at maturity. "We are developing methodologies to meet this demand," said Katrien van Acoloyen, structured finance analyst at Standard & Poor's. Methodologies will likely center around where the triggers are set which move invested assets between the risky and safe buckets.

  • 16 Jun 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 356,356.29 1337 9.08%
2 JPMorgan 317,952.80 1443 8.10%
3 Bank of America Merrill Lynch 316,523.82 1098 8.06%
4 Goldman Sachs 235,165.28 784 5.99%
5 Barclays 229,116.44 888 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 34,312.86 161 6.57%
2 Deutsche Bank 34,194.98 116 6.55%
3 Bank of America Merrill Lynch 31,113.25 94 5.96%
4 BNP Paribas 27,479.75 167 5.26%
5 SG Corporate & Investment Banking 23,982.83 136 4.59%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,536.02 78 8.89%
2 Morgan Stanley 16,323.54 83 7.43%
3 Citi 15,750.21 93 7.17%
4 UBS 15,208.47 58 6.92%
5 Goldman Sachs 13,499.48 73 6.15%