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TOP STORIES

  • Healthineers kick-starts big year for spin-offs

    After the recent equity market volatility, Siemens has decided to push on with the spin-off of its healthcare division, which promises to be the biggest IPO in Germany since the flotation of Deutsche Telekom in 1996. The deal is the first in a promising pipeline of corporate carve-outs this year, writes Aidan Gregory.

    • 22 Feb 2018
  • US debt drive to boost SSAs but rock IG market

    The US government’s agreement to remove the country’s debt ceiling early in February has left the buy-side waiting for a wave of issuance from the US Treasury. But as opportunities arise for investors, one has warned that the public may end up seeing the bond market as “the bad guys” as rising yields help public sector borrowers but hinder corporates in the front end of the dollar curve. Nigel Owen and Craig McGlashan report.

    • 22 Feb 2018
  • Albaraka Turk provides blueprint for Turkish AT1

    Albaraka Turk broke new ground last week it has emerged, issuing the first ever Basel III-compliant additional tier one (AT1) from Turkey in a private placement. The deal has set a structuring template for future Turkish AT1 issuance, and has sparked interest among those looking to bring the next, possibly public benchmark, deal, writes Virginia Furness.

    • 22 Feb 2018
  • Venezuela's petro cryptocurrency meets cold reception

    Venezuela has become the first sovereign nation to launch a cryptocurrency. While few outside Venezuelan president Nicolas Maduro’s administration are impressed by the pioneering venture, others are expected to follow suit nonetheless, write Lewis McLellan, Costas Mourselas and Oliver West.

    • 22 Feb 2018

COPPLESTONE'S CARTOON

 

PEOPLE & MARKETS

  • GlobalCapital Bond Awards Poll — vote now!

    We are excited to announce that the GlobalCapital Bond Awards Poll is now open.

    • 20 Feb 2018
  • European banks could be hamstrung by extra-territorial CLO rules

    New securitization rules could put EU-domiciled banks at a competitive disadvantage arranging US CLOs, if EU risk retention rules are applied in their planned form. Market participants raised the issue at a public hearing on Monday, but regulators refused to be drawn on whether they would try to cure the problem in the final version of the rules.

    • 22 Feb 2018
  • Make bank bankruptcy great again, says US Treasury

    The US Department of the Treasury defied Republican calls to scrap the Orderly Liquidation Authority this week, after publishing a report in which it recommended an overhaul of the nation’s framework for dealing with failing banks.

    • 22 Feb 2018

COMMENT & COLUMNS

THE GLOBALCAPITAL VIEW

  • VIEW: The ECB’s collateral rule is a step to a safer German banking system

    Disallowing the use of senior bail-in debt as collateral at the ECB has alarmed some parts of the market — but discouraging banks from buying other banks' debt should be applauded.

    • 20 Feb 2018
  • Venezuela and Russia: the return of the crypto underground

    Since cryptocurrencies started to go legit, many in the market assumed legitimate uses for the technology would marginalise criminal uses that characterised bitcoin’s early development. This was naïve. Venezuela’s foray into the sector show that avoiding the constraints of the mainstream financial system remains at the heart of the cryptocurrency value proposition.

    • 20 Feb 2018

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SOUTHPAW

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LEADERS

  • Swiss bonds: the tyranny of the minority

    GlobalCapital understands the Swiss Exchange is considering changing the way a bond becomes eligible for the Swiss Bond Index. This will not only be a significant development, but a welcome one.

    • 22 Feb 2018
  • HY investors should pay to parlay

    European high yield bond investors are up in arms at being asked to pay to be members of the European High Yield Association (EHYA), a division of industry body, the Association for Financial Markets in Europe (AFME). They should pay up, if not shut up.

    • 22 Feb 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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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 70,686.31 243 8.66%
2 JPMorgan 59,127.56 243 7.24%
3 Bank of America Merrill Lynch 51,868.57 171 6.35%
4 Barclays 49,446.96 145 6.06%
5 Deutsche Bank 43,011.01 162 5.27%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 9,359.72 13 13.16%
2 SG Corporate & Investment Banking 7,833.35 12 11.01%
3 Goldman Sachs 5,773.27 11 8.12%
4 Citi 4,606.54 14 6.48%
5 BNP Paribas 3,385.97 16 4.76%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2,546.04 12 11.27%
2 JPMorgan 1,732.54 10 7.67%
3 Credit Suisse 1,727.84 7 7.65%
4 Deutsche Bank 1,465.10 11 6.49%
5 Citi 1,285.41 7 5.69%