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
  • 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%