• Arcelor bonds tighten as it seeks $3bn rights issue to cut debt

    ArcelorMittal has bowed to the inevitable and announced a $3bn rights issue this morning, after its credit spread had widened to distressed levels as global steel prices slump. Goldman Sachs, Bank of America Merrill Lynch and Crédit Agricole are global coordinators.

    • 05 Feb 2016
  • CMC Markets completes £218m IPO, trades down slightly

    CMC Markets, the financial spread betting firm, priced its £218m initial public offering on Friday morning, before falling 2.5% in early trading. By 1pm it was down 0.6%.

    • 05 Feb 2016
  • Ascential homes in on middle of range, covered within it

    Ascential, the information and events business formerly known as Top Right Group and Emap, has narrowed the price range for its IPO, homing in on the middle of the original range, and is covered within that range.

    • 05 Feb 2016
  • First signs of IPO health lift ECM mood in Europe

    Equity capital market participants this week hailed the successful IPO of Clydesdale and Yorkshire Bank Group, and its strong first two days of trading. If other listings also deliver in the aftermarket, bankers think it could spark a surge of new deals, regardless of volatility, writes Olivier Holmey.

    • 04 Feb 2016
  • Elite name LVMH wins scorching terms with $600m synth-CB

    The exceptionally advantageous terms issuers can get in the convertible market — and the product’s appeal to the bluest of blue chip names — were highlighted again on Thursday when LVMH Moët Hennessy Louis Vuitton, the French luxury goods group, raised $600m at a deeply negative yield.

    • 04 Feb 2016
  • Pain trades abound as financials panic routs credit, equity crowd

    Credit and equity markets suffered a crisis of confidence this week, with several previously crowded trades rapidly unraveling in the face of rising concerns about European banks, US Federal Reserve policy and a perceived lack of European Central Bank firepower to revitalise the continent’s stagnant economy.

    • 04 Feb 2016
  • Russia, China join action as block sellers find windows for trades

    The pent-up demand from equity owners to sell down blocks of shares was evident again on Thursday evening, as two deals were launched, after the Euro Stoxx 50 had managed to rise 0.3% on the day.

    • 04 Feb 2016
  • CYBG 'no challenger bank', says CFO after London listing

    As Clydesdale and Yorkshire Bank Group completes its long-awaited demerger from National Australia Bank and floats on the London Stock Exchange, the firm's CFO Ian Smith sits down with Olivier Holmey to discuss CYBG's "challenger" status, its long road back to independence, and its future.

    • 03 Feb 2016
  • Biotech firm Brain brings first German IPO of year

    Biotechnology Research And Information Network priced and allocated its €32.5m initial public offering on Wednesday. The German biotech business is due to start trading in Frankfurt on February 9.

    • 04 Feb 2016
  • Downbeat Deutsche Bank can’t afford to wait too long for Warren

    The German lender can’t afford any further introspection after losing its place at the summit of European corporate finance, writes David Rothnie.

    • 04 Feb 2016
  • Russia to rev up privatisation of crown jewels

    The shake-up in world economic affairs produced by the plunging oil price threw up a new result this week, as news emerged that Russia’s president Vladimir Putin wants to push forward privatisation of some of the largest state companies.

    • 02 Feb 2016


Recent highlights

  • CYBG rises on first day of trading, even as FTSE falls

    Clydesdale and Yorkshire Bank Group rose when it began trading after its IPO on Wednesday, having completed its separation from National Australia Bank with a £396m flotation.

    • 03 Feb 2016
  • Gecina block fails to clear, again

    Blackstone sold on Monday night a block of shares in French property company Gecina – the second such trade in five months. Just like last time, the deal failed to clear.

    • 02 Feb 2016
  • Scandi Tobacco covered, but not at top of range

    Cigar and pipe tobacco manufacturer Scandinavian Tobacco has received enough demand from investors to get its Copenhagen IPO done, but it is not yet covered throughout the price range.

    • 02 Feb 2016


Deals in the pipeline

Completed deals

Capital markets data from GlobalCapital


Go to GlobalCapital's Equity data pages for our daily updated EMEA IPO pipeline, as well as revenue and bookrunner league tables for equity capital markets around the world.


Equity people & markets

  • Repo market wins regulation reprieve

    The European Securities and Markets Authority (ESMA) has backed away from rules which could have crippled the repo market, through bypassing high level laws that were fundamentally ill-conceived. But the initiative, supposed to improve settlement discipline, will still hurt liquidity in the bond market.

    • 04 Feb 2016
  • Investors warm to MiFID II research rule

    Some investors and brokers are warming up to a controversial part of the upcoming Markets in Financial Instruments Directive that will force bank clients to buy fixed income research that traditionally they have gotten for free.

    • 04 Feb 2016
  • CFTC vows to lighten ‘onerous reg burdens’ for derivatives end users

    Commodity Futures Trading Commission (CFTC) chairman Timothy Massad has emphasised his "commitment to protecting commercial end-users from overly onerous regulatory burdens", drawing a sharp distinction between the core users of derivatives and the activities linked to the financial crisis.

    • 04 Feb 2016
  • Small banks left in model switch limbo

    Caught between two regulatory initiatives, many small banks are unsure about whether to embark on the long and costly journey of developing their own regulatory capital models.

    • 04 Feb 2016
  • Credit Suisse staggers to full year loss

    Credit Suisse reported a loss of Sfr6.44bn for the fourth quarter of 2015, as the bank’s restructuring ramped up and it crammed exceptional items into last year’s numbers. Like Deutsche Bank in the third quarter, a chunky goodwill writedown was the main culprit. But the bank also suffered from its exposure to leveraged loans.

    • 04 Feb 2016
  • Apac stands tall for CS amid global losses

    Credit Suisse announced its full year results for 2015 this week with the Swiss lender reporting pre-tax losses of Sfr2.42bn ($2.39bn). However its Asia Pacific business was one of the standout performers posting a pre-tax gain.

    • 04 Feb 2016
  • China's Safe relaxes QFII rules to encourage inbound investment

    China’s State Administration of Foreign Exchange (Safe) has relaxed the rules on the Qualified Foreign Institutional Investor (QFII) scheme in another attempt to encourage inbound investment by offshore market participants. The move comes at a time when China has shut down the majority of its outbound investment schemes.

    • 04 Feb 2016
  • Bank woes not due to commodity derivs: OCC

    Investors have been looking for ways to explain the poor performance of global banks this year. While negative interest rates in Europe and Japan have gained the attention of some, others are focused on bank exposure to the energy sector to explain low equity valuations.

    • 03 Feb 2016
  • Barclays transfers derivatives book to JP Morgan in rundown

    Barclays will offload a legacy derivatives portfolio to JP Morgan as part of the British bank's plans to run down its non-core assets.

    • 03 Feb 2016
  • BoE suggests major changes to regulations

    From bonus caps to pre-trade transparency, the Bank of England has suggested big changes to proposed European Union financial regulation in response to a call for evidence from the European Commission.

    • 03 Feb 2016

more people & markets


equity news archive



Bookrunners of Global ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Feb 2016
1 GF Securities Co Ltd 3,529.13 8 7.94%
2 JPMorgan 3,367.17 15 7.58%
3 CITIC Securities 2,150.58 7 4.84%
4 Guosen Securities Co Ltd 2,136.81 6 4.81%
5 Bank of America Merrill Lynch 2,062.24 12 4.64%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 Feb 2016
1 UBS 722.88 2 16.74%
2 Deutsche Bank 576.16 4 13.34%
3 Citi 447.50 3 10.36%
4 BNP Paribas 352.81 3 8.17%
5 Credit Agricole CIB 347.03 2 8.04%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Feb 2016
1 Barclays 32,828.49 74 9.02%
2 Citi 24,327.69 73 6.68%
3 JPMorgan 19,485.37 90 5.35%
4 Bank of America Merrill Lynch 19,402.46 63 5.33%
5 Deutsche Bank 18,951.64 53 5.21%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 Feb 2016
1 SG Corporate & Investment Banking 1,007.03 4 9.22%
2 BNP Paribas 826.35 4 7.56%
3 Credit Agricole CIB 786.20 2 7.20%
4 ING 684.56 3 6.26%
5 Commerzbank Group 659.85 3 6.04%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 Feb 2016
1 UBS 722.88 2 16.74%
2 Deutsche Bank 576.16 4 13.34%
3 Citi 447.50 3 10.36%
4 BNP Paribas 352.81 3 8.17%
5 Credit Agricole CIB 347.03 2 8.04%