• Italian bank recaps move ahead with UniCredit, UBI

    Italy took two steps forward in fixing its embattled banking system on Thursday, as UniCredit won shareholder approval for its €13bn rights issue, while UBI Banca shares surged on the news that it will seek to raise €400m to support a takeover of three retail banks bailed out in 2015.

    • 12 Jan 2017
  • Immofinanz tackles 2018 maturity with new CB, early conversion

    Immofinanz, the Austrian property company, issued a €300m convertible bond in an evening bookbuild on Thursday night, alongside an incentivised early conversion of its €515m CB that matures in March 2018.

    • 13 Jan 2017
  • Prysmian enters CB big league as €500m flies

    Equity-linked issuance in Europe burst into life on Thursday with the sale of a €500m bond for Prysmian Cables & Systems and the first Japanese CB of any size since September. Then on Thursday evening Immofinanz launched another deal. The clutch of deals suggests the market is wide open for issuers.

    • 12 Jan 2017
  • Ezaki Glico reopens Japanese CB market after rate-induced drought

    Ezaki Glico, a Japanese confectioner, sold a ¥30.9bn ($267m) Euroyen convertible through Nomura on Thursday, breaking a long dry spell in the market.

    • 12 Jan 2017
  • Blocks pace quickens as Dutch state sells €452m chunk of ASR

    The acceleration of equity block trading in Europe continued on Thursday evening, when NLFI, the organisation that manages investments for the Dutch government, launched the sale of a 13.6% stake in ASR Nederland, the insurer nationalised during the financial crisis.

    • 13 Jan 2017
  • France enlarges Engie block to €1.1bn and prices it well

    Shares of Engie, the power and gas company, traded solidly on Wednesday and Thursday after the French government's block trade in the stock on Tuesday night won strong demand, enabling the lead managers to increase it by 10% and price above the bottom of the marketed range.

    • 11 Jan 2017
  • BCP shares tank on €1.3bn rights issue to repay bailout

    Shares in Banco Comercial Português, the Portuguese bank, have fallen 21% since it unveiled plans late on Monday for a €1.33bn rights issue to strengthen its core tier one capital ratio and finance the redemption of contingent convertible bonds owned by the Portuguese government.

    • 10 Jan 2017
  • Foncière des Régions raises €384m of new equity to buy €540m set of Spanish hotels

    Foncière des Régions, the French property company, has achieved a covered book for its €348m capital increase to finance the acquisition of a portfolio of 19 Spanish hotels through its subsidiary Foncière des Murs.

    • 10 Jan 2017
  • Arle Capital Partners exits Technogym in €100m ABB

    Arle Capital Partners has sold its remaining stake in Technogym, the Italian fitness equipment maker founded by Nerio Alessandri, for €100m, through an accelerated bookbuild that was covered in half an hour.

    • 10 Jan 2017
  • Bosses keep 44% of Tikehau as it lists via tender offer to Salvepar minorities

    Tikehau Capital, the asset manager, is seeking a listing on Euronext Paris via a tender offer for the shares and convertible bonds of its listed subsidiary Salvepar.

    • 09 Jan 2017
  • BRF mulls London IPO for halal poultry business

    BRF, the Brazilian food conglomerate, has confirmed that it is considering London for an IPO of its halal food business, although a final decision has not been made.

    • 09 Jan 2017
  • Equity-neutral convertibles return as Michelin bags juicy arbitrage

    The equity-neutral convertible bond structure that faded from the market in the second half of 2016 made a strong comeback on Thursday, when French tyre maker Michelin launched a $500m deal that won eager demand and was priced at the best end of terms for the issuer, writes Jon Hay.

    • 05 Jan 2017
  • Populist wave threatens peace and the gains of globalisation

    Once upon a time the worst thing investors had to think about at new year was what surprises the Fed might spring. Now there’s a maverick US president who talks of picking fights with China, allies, you name it. The UK is leaving the EU, the far right might win power in France and trade is ailing. Oh, and then there’s the Fed. Jon Hay reports.

    • 01 Jan 2017
  • Petro Rabigh rights issue mandate raises Saudi ECM hopes

    The IPO of Saudi Aramco is likely to remain a top talking point for equity capital markets bankers for much of 2017, but another Saudi deal that is likely to prove more straightforward to bring to market has taken another step forward.

    • 04 Jan 2017
  • CBs: back to basics as rate hikes tempt weaker credits

    Europe’s convertible market is no longer dripping with superlatives as 2017 begins — middling performance and mild outflows have taken out some of the heat. That may be a good thing, as investors may get more of the deals they like: for companies whose credit needs some looking at, but with interesting equity stories. Aidan Gregory and Jon Hay report.

    • 01 Jan 2017
  • ECM banks work harder for less, stressed investors get picky

    On the surface, equity capital markets are a well-oiled machine, built to run over the rocky ground of unpredictable stockmarkets. Beneath the surface, there is a lot of sweat. Banks are having to staff their teams with less money, but do just as many deals. Investors are under the cosh, too, squeezed by weak performance and the march of passive funds. Jon Hay reports.

    • 01 Jan 2017
  • Equities jump on Trump reflation train — expect a bumpy ride

    Equity investors have something new to believe in: fiscal largesse in the US kickstarting global growth. That’s good news for the many companies and banks with capital to raise in 2017 — the trouble is, markets are likely to be as volatile as Donald Trump’s temper. By Jon Hay, additional reporting by Aidan Gregory

    • 01 Jan 2017


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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.


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Bookrunners of Global ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Haitong Securities Ltd 1,536.61 7 6.40%
2 CITIC Securities 1,474.17 4 6.14%
3 Goldman Sachs 1,302.50 8 5.42%
4 Bank of America Merrill Lynch 1,221.66 12 5.09%
5 China Securities Co Ltd 1,210.37 5 5.04%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 Emirates NBD PJSC 408.38 1 31.73%
2 SG Corporate & Investment Banking 166.67 1 12.95%
2 JPMorgan 166.67 1 12.95%
2 Credit Agricole CIB 166.67 1 12.95%
5 Morgan Stanley 59.80 1 4.65%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 BNP Paribas 43,328.12 198 6.63%
2 JPMorgan 42,145.56 84 6.45%
3 HSBC 38,419.93 154 5.88%
4 UniCredit 37,616.85 180 5.75%
5 ING 30,163.46 163 4.61%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 Emirates NBD PJSC 408.38 1 31.73%
2 SG Corporate & Investment Banking 166.67 1 12.95%
2 JPMorgan 166.67 1 12.95%
2 Credit Agricole CIB 166.67 1 12.95%
5 Morgan Stanley 59.80 1 4.65%