HSBC’s Cartledge points to increased leverage opportunities

In his speech to delegates at Euromoney’s syndicated loans conference in London this morning, Richard Cartledge, managing director in the global syndicated finance division at HSBC, predicted that the syndicated loan product would continue to play a vital role in capital raising.

  • 23 Mar 2001
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In his address, entitled 'A Year in Review', Cartledge outlined his predictions for the loan market, revealing that the first quarter volumes had been disappointing, especially in the US and UK M&A sectors, but that leveraged finance would increasingly be an important driver of activity.

With the falling volumes of plain vanilla transactions, including jumbo ticket M&A, Cartledge warned that targets would be increasingly difficult to achieve this year.

He also touched on the well-worn theory of bond and loan market convergence. He believed the markets would continue to converge with an increased focus on relative pricing of bonds and credit derivatives.

Cartledge rounded off his speech by saying that there was likely to be an increased linkage between investment banking opportunities and balance sheet commitment.

  • 23 Mar 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 358,291.38 1348 9.06%
2 JPMorgan 320,704.66 1461 8.11%
3 Bank of America Merrill Lynch 318,128.31 1104 8.04%
4 Goldman Sachs 236,643.87 789 5.98%
5 Barclays 231,197.41 895 5.84%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 35,007.57 165 6.53%
2 Deutsche Bank 34,880.53 120 6.51%
3 Bank of America Merrill Lynch 31,805.65 97 5.93%
4 BNP Paribas 27,920.60 169 5.21%
5 SG Corporate & Investment Banking 24,398.89 138 4.55%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 19,745.92 80 8.85%
2 Morgan Stanley 16,334.63 83 7.32%
3 Citi 15,972.34 95 7.16%
4 UBS 15,487.17 60 6.94%
5 Goldman Sachs 14,053.61 76 6.30%