• No regulatory relief ahead despite US-EU split

    Europe’s faltering on margin rules for uncleared swaps this year has, for some market participants, proved that the trans-Atlantic regulatory rollout has reached breaking point – a reckoning that, perversely, could buy the market some relief in the form of a slowdown in the regulatory pace.

    • 23 Aug 2016
  • Transparency and the tragedy of the commons

    Private executions, club deals, non-disclosure agreements and bilateral executions all have their place in the arsenals of syndicate desks and issuers, particularly in the securitization market. But taken together, they are harmful to the market.

    • 23 Aug 2016
  • Time for GDP-linked bonds to shine?

    A Bank of England paper has mooted the idea of GDP-linked bonds as a means of reining in governments’ ballooning debt to GDP ratios.

    • 23 Aug 2016
  • Royal loan default is a time for introspection

    Royal Industries Indonesia rattled the loans market last week when it failed to pay the first principal instalment on a $380m deal signed in June 2015. The incident has caused consternation among participating banks, with many being quick to blame the bookrunners on the trade. But this should be a wake-up call to lenders, who need to re-examine their internal approval procedures.

    • 23 Aug 2016
  • The first mover advantage in NPL securitization

    Investors in non-performing loan securitizations are a rare find, so issuers which can move early might be better placed to grab some of the limited capital available.

    • 16 Aug 2016
  • Tullett's voice still in tune as it goes on buyout tour

    Far from seeing Tullett Prebon’s voice-hybrid push as a last stand of the dinosaurs against robot supremacy, those firms going all-in on electronic trading would do well to re-examine their own longevity.

    • 16 Aug 2016
  • GSE reform is a philosophical posture, not a policy

    There's no true political will to end the dominance of Freddie Mac and Fannie Mae in RMBS. The talk in Washington of restoring the private label RMBS market is driven more by a philosophical push against smaller government than by a coherent plan for change, or a willingness to face the trade-offs it requires.

    • 16 Aug 2016
  • SSAs need early funding Trump card

    A dangerous and divisive White House hopeful could cause the capital markets problems as the year draws to a close. SSA issuers that have kept the funding taps on through August are taking the prudent approach.

    • 16 Aug 2016
  • India’s insurance IPO push: best to be prudent

    The Insurance Regulatory and Development Authority of India (IRDA) is looking to make IPOs mandatory for all insurance companies in India that fit the criteria. For some firms, this could be the kick they need to get their act together. But the regulator should be careful about forcing the hands of insurance firms that are not ready for a listing.

    • 16 Aug 2016
  • Renminbi 8/11: Less complacency, please

    It has been a brave new world for the renminbi since the People's Bank of China (PBoC) shook global markets with its surprise devaluation just over a year ago. But while there are signs that things have moved in the right direction, it seems a little early to trumpet the move as a policy success.

    • 15 Aug 2016

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2016
1 JPMorgan 243,624.78 967 8.68%
2 Citi 218,715.75 783 7.79%
3 Barclays 205,766.70 643 7.33%
4 Bank of America Merrill Lynch 202,029.46 695 7.19%
5 HSBC 173,256.62 692 6.17%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Aug 2016
1 BNP Paribas 23,543.21 101 6.75%
2 UniCredit 23,360.96 107 6.69%
3 JPMorgan 23,076.45 41 6.61%
4 HSBC 19,192.10 94 5.50%
5 ING 16,697.84 101 4.78%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Aug 2016
1 JPMorgan 9,747.52 55 9.59%
2 Goldman Sachs 8,816.07 50 8.67%
3 Citi 6,911.91 36 6.80%
4 Morgan Stanley 6,504.18 35 6.40%
5 UBS 6,126.84 31 6.03%