TOP STORIES

  • Bayer tops up $15bn eight-trancher with €5bn four-trancher

    German pharmaceutical company Bayer delivered on its plans to raise more than €20bn in senior bonds with an eight tranche dollar deal on Monday and a four tranche euro transaction on Tuesday. The dollar deal was three times oversubscribed and the euro deal nearly 4.5 times.

    • 19 Jun 2018
  • Erste and Caffil covered bonds prove ‘less straightforward’

    Erste Group and Caffil found good demand for their covered bonds that were respectively issued in the six and 20 year tenors on Tuesday. But neither deal was 'straightforward' according to leads, who noted that overnight market volatility had weighed on sentiment.

    • 19 Jun 2018
  • Clearers work on blockchain margin call solution

    Four companies involved in clearing on Tuesday said they had completed a proof of concept using distributed ledger technology that they say will make margin calls for derivatives more efficient.

    • 19 Jun 2018
  • EPP bond failure adds to EM troubles

    EPP, a Polish real estate investment company, postponed its five year euro bond on Monday despite having gone as far as to set the yield for the deal. The company blamed adverse market conditions, with bankers away from the deal were divided as to whether anything could or should have been done differently by the leads.

    • 19 Jun 2018

COPPLESTONE'S CARTOON

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PEOPLE & MARKETS

  • Miffed? Far from it, say SSAs adapting to life under MiFID II

    Six months into the life of MiFID II, a new regulation that had many in the capital markets sweating over just how onerous their lives were about to become, some public sector borrowers have claimed that not only has the implementation of the regulation been simple, but in several ways it has been beneficial. That is not the universal view, however, with some borrowers still experiencing minor headaches.

    • 14 Jun 2018
  • UK Treasury Committee asks for bonus revamp

    The UK Treasury Committee has recommended financial firms change their bonus culture to one where compensation is assessed against ‘objective and formulaic’ criteria, as part of a package of recommendations in its Women in Finance report. Experts warn the recommendations could become government policy if the industry does not change of its own accord.

    • 14 Jun 2018
  • Investec scoops HSBC’s RMB banker

    Huo Rongrong, the former global head of RMB and China business at HSBC, has left the bank for Investec Asset Management. The London-based banker will have a broader remit in her new buy-side role.

    • 14 Jun 2018

COMMENT & COLUMNS

THE GLOBALCAPITAL VIEW

  • No shame in the game: taking the embarrassment out of pulled trades

    It’s time to take the stigma out of pulled deals. In this world of the Market Abuse Regulation (MAR), political volatility, and opportunistic issuance, sometimes it just shows that an issuer’s treasury was reaching a bit — and that’s OK.

    • 19 Jun 2018
  • Bond underwriters should tread carefully

    The Asian bond market has had a volatile quarter, with new dollar issues struggling in primary and notes underperforming in the secondary market. It may be tempting to cut corners, but there is no room for shoddy market practices.

    • 19 Jun 2018

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SOUTHPAW

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LEADERS

  • The investor push-back begins

    SSA borrowers have long been used to having it their way amid the exceptional monetary easing meted out by central banks since the global financial crisis. But this week could be the moment things started swinging back in favour of investors.

    • 14 Jun 2018
  • Green covered bonds can fill CBPP3’s void

    DNB Boligkreditt showed this week that borrowers have a very good incentive to consider issuing green covered bonds, especially now that the European Central Bank has signalled its intention to reduce net buying of assets under the Covered Bond Purchase Programme (CBPP3) to zero by December.

    • 14 Jun 2018

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GlobalCapital Bond Comments

View detailed issuer and bookrunner commentary and market appraisal for the key deals in the market. Choose from SSA, FIG, Corporates and Emerging Market deals.


ASSET CLASS NEWS

SSA

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FIG

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SECURITIZATION

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CORPORATE BONDS

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EQUITY

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SYNDICATED LOANS

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LEVFIN

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DERIVATIVES

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EMERGING MARKETS

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 186,867.44 727 7.96%
2 JPMorgan 179,438.72 796 7.64%
3 Bank of America Merrill Lynch 171,981.94 568 7.33%
4 Barclays 149,114.94 517 6.35%
5 HSBC 131,579.74 600 5.60%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 28,912.55 42 8.28%
2 BNP Paribas 23,481.31 80 6.72%
3 Citi 19,694.20 52 5.64%
4 SG Corporate & Investment Banking 18,198.32 63 5.21%
5 Credit Agricole CIB 18,085.88 74 5.18%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 8,528.32 38 9.20%
2 JPMorgan 8,142.46 34 8.79%
3 Citi 7,179.38 39 7.75%
4 UBS 5,926.29 19 6.40%
5 Deutsche Bank 4,787.10 31 5.17%