• Maersk short bond tidy-up could be in the vanguard of 2019 activity

    Danish logistics company Maersk gave investors something other than political and economic matters to consider this week when it announced a tender offer for its shortest dated euro bonds on Monday. If the current poor tone in the bond markets continues into 2019, this type of exercise could become more prevalent, writes Nigel Owen.

    13 Dec 2018
  • Draghi sentences BTP market to capital punishment

    The European Central Bank set the alarm bells ringing for a fresh bout of volatility in the Italian government bond market on Thursday as it outlined its strategy for the reinvestments of its maturing bonds under the Public Sector Purchase Programme (PSPP). Burhan Khadbai reports.

    13 Dec 2018
  • TLTRO III seen as ‘inevitable’ after ECB meeting

    News that the European Central Bank was "reflecting" on reinstating its Targeted Longer-Term Refinancing Operations for a third time (TLTRO III) sent a cheer through the financial institutions bond market this week. Banking commentators had been expecting some sort of extension for the cheap liquidity programme, now they see it as all but inevitable, writes Tyler Davies.

    13 Dec 2018
  • Expect more UK rights issues after Kier, say bankers

    Equity capital markets bankers expect more corporate restructuring deals and rights issues in 2019 as companies begin to deal with a turn in economic cycles. More are likely to have to take a similar approach to the Kier Group, which is raising a £264m rights issue this month.

    • 13 Dec 2018
  • StanChart capitalises on big year for Mid-East bonds

    The CEEMEA bond market has been shaken up in 2018. With some of the major issuers out of action, the Middle East has come into its own and heading the charge is Standard Chartered, which enjoyed a breakout year in the region.

    • 13 Dec 2018

COPPLESTONE'S CARTOON

 

Leader

PEOPLE & MARKETS


COMMENT & COLUMNS

THE GLOBALCAPITAL VIEW

  • Brexit Armageddon grows more likely

    Rising hopes that the UK can escape the nightmare of Brexit are misplaced. A second referendum would carry huge risks, and even if the outcome were for the UK to remain in the European Union, it would leave an unstable Britain with a damaged relationship with the rest of the EU.

    • 13 Dec 2018
  • Mexcat: where tender intentions mean more than turbulent discussions

    Bondholders were never going to be satisfied with Mexico’s new government after it cancelled the airport project in which they’d invested $6bn. But though the issuer’s tender offer and consent solicitation is unlikely to be the administration’s last squabble with markets, it is still a good sign.

    • 13 Dec 2018

more Views

SOUTHPAW

  • Fewer elephants in the room for European M&A in 2019

    A banner year for European M&A skewed by a handful of jumbo deals has raised concerns about how much further the cycle has to run. But bankers’ deal pipelines are holding up, and the outlook is strong for 2019, writes David Rothnie.

    • 12 Dec 2018

more Southpaw


LEADERS

  • France, Italy and the populist transmission mechanism

    France looks set to be in breach of European Union budget rules after president Emmanuel Macron promised a set of concessionary measures in an effort to quell the violent protests of the last few weeks. While, by the absolute letter of the law, France’s breach will not be as bad as Italy’s, such a situation will hardly do much to stem the rise of populism or boost the credibility of the EU.

    • 13 Dec 2018
  • Would you choose to invent Credit Suisse?

    Credit Suisse is giving money back to shareholders in a sign that a three year restructuring, which has featured two rights issues, is now firmly in its rearview mirror. But as the bank has cleaned up its act and refocused on what it does best, the argument that all of its businesses should live under one roof looks increasingly strained.

    • 13 Dec 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

more emerging markets

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 345,651.05 1349 8.09%
2 JPMorgan 341,748.87 1469 8.00%
3 Bank of America Merrill Lynch 306,869.45 1064 7.18%
4 Barclays 258,170.48 974 6.04%
5 Goldman Sachs 227,691.73 773 5.33%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 48,305.28 204 6.53%
2 JPMorgan 46,311.15 105 6.26%
3 UniCredit 40,488.91 181 5.48%
4 SG Corporate & Investment Banking 38,348.83 146 5.19%
5 Credit Agricole CIB 37,171.96 185 5.03%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 14,514.87 63 9.19%
2 Goldman Sachs 13,469.15 66 8.53%
3 Citi 9,971.36 58 6.32%
4 Morgan Stanley 8,572.10 54 5.43%
5 UBS 8,414.70 37 5.33%