Electric Utility Plans Weather Debut

  • 03 Sep 2001
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London Electricity plans to start using weather derivatives before year-end to hedge its exposure to gas and electricity prices. Jack Watkins, energy trader in London, said "It would be foolish not to [hedge exposure to the weather]." The company has been looking at hedging for five years but has not entered weather contracts yet because the market was too illiquid. London Electricity has decided to make the plunge this winter because of increased liquidity in plain-vanilla options and the increasing number of bespoke products.

It is especially interested in using options, which have a minimal basis risk between the hedge and the exposure. These would included options which pay out in gas or power but are triggered at a certain temperature rather than commodity price. Watkins declined to detail the size of its exposure, but said "we will be an active player." The company has been talking to all the major participants, including Enron, BNP Paribas and TXU Europe Energy Trading.

  • 03 Sep 2001

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
  • 18 Jul 2017
1 HSBC 25,202.67 100 7.14%
2 Deutsche Bank 25,125.19 81 7.12%
3 Bank of America Merrill Lynch 21,836.07 58 6.18%
4 BNP Paribas 18,395.95 105 5.21%
5 Credit Agricole CIB 18,048.72 104 5.11%

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%