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
  • 23 Jan 2017
1 Citi 35,941.13 111 8.93%
2 Barclays 31,588.47 86 7.85%
3 JPMorgan 27,799.55 107 6.91%
4 Bank of America Merrill Lynch 27,706.86 75 6.88%
5 HSBC 21,949.38 82 5.45%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%