WestLB's Trading Lines Cut

  • 14 Apr 2003
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Bank of America, Barclays Capital and Deutsche Bank cut all trading lines, including derivatives, with Westdeutsche Landesbank late last month in an attempt to force it to agree to a debt refinancing. The lines were reopened within three days--the Deutsche Bank line was restored March 29, and lines with BofA and Barclays were reinstated over the next two days--the morning after the refinancing closed, says one banker. He noted the lead agents' move meant that WestLB was unable to trade any products with the firms.

The move was a last-ditch attempt to get WestLB to sign up to Reliant Resources' USD5.9 billion make-or-break debt refinancing. Mark Cohen and Chris Kinney, managing directors at Deutsche Bank and Barclays responsible for the refinancing, and Peter Sherman, a financier at BofA who worked on the deal, declined to comment. John Ryan, managing director in WestLB's New York workout team, said "The lead arrangers seemed to over-react to the situation." He declined to discuss details of the spat.

  • 14 Apr 2003

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Citi 244,235.70 910 8.87%
2 JPMorgan 223,767.95 1021 8.13%
3 Bank of America Merrill Lynch 211,276.97 750 7.68%
4 Barclays 166,062.82 634 6.03%
5 Goldman Sachs 162,877.27 537 5.92%

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%