• Investors to coax companies: own up to slavery

    A new drive is being launched by investors in London today to persuade companies to root out modern slavery in their supply chains. The quest will be hard in two ways: firms will risk bad publicity if they find slavery; and investors are unlikely to make money out of the work.

    12 Nov 2019
  • EFSF wraps up funding year as EAA grabs €1bn in euro return

    The European Financial Stability Facility rounded off its 2019 funding programme on Tuesday, but some on-looking bankers remarked that the deal, though fully subscribed, did not reach the issuer's customary high levels of demand. Meanwhile, Erste Abwicklungsanstalt returned to the euro market for the first time since February 2018.

    12 Nov 2019
  • Fly-by bond for Heathrow holding company

    Heathrow Finance, the holding company for Europe’s largest airport, brought a £250m 10 year to market on Tuesday, with global coordinators Barclays, BNP Paribas and ING, announcing the bullet maturity deal with no roadshow or marketing effort. The deal was priced through talk and increased to £300m.

    12 Nov 2019
  • All eyes on Deutsche, amid covered bond trio

    Danish Ships Finance, Natixis Pfandbriefbank and Raiffeisen Bank International will keep the primary market busy with deals and roadshows this week. But the main focus will be on the size and spread that Deutsche Bank achieves for its innovative debut structured conditional pass through (CPT) covered bond that will be launched imminently.

    12 Nov 2019
  • Mediobanca plots advisory, mid-cap push

    Mediobanca’s plan for the next four years involves boosting advisory origination and using capital more efficiently in its corporate and investment bank. It also commits to issuing a sustainability-themed bond.

    • 12 Nov 2019

COPPLESTONE'S CARTOON

 

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PEOPLE & MARKETS


COMMENT & COLUMNS

THE GLOBALCAPITAL VIEW

  • How foreign securities houses should enter China

    Foreign banks hoping to break into China’s capital markets will have an open invitation at the end of next year, when final restrictions on their ownership of securities houses are removed. They will have some small successes with secondary trading but muscling in on primary capital markets will prove expensive ─ and risky.

    • 08:00 AM
  • Greening central banks is a measure of political weakness

    Green quantitative easing is having a moment. As the European Central Bank restarts the ordinary brown kind of money printing, buying corporate and public sector bonds, a broad range of commentators, from left wing activists to BlackRock’s head of official institutions argue that central banks ought to put their balance sheet power in play to green the world. But turning to the central banks is a counsel of despair. The technocrats should be a last resort; it is politicians who should be at the vanguard.

    • 12 Nov 2019
  • Corporate QE returns, for good or ill

    The European Central Bank let markets look under the bonnet of its new Corporate Sector Purchase Programme on Monday, and the only thing the raw data has confirmed is that omnipotent central banks like to move in mysterious ways seemingly at odds with what the market wants or needs.

    • 12 Nov 2019
  • UK IPO hopeful in pole position in streamer race

    Tuesday might be a day to spare a thought for any investor long Netflix as Disney launches is streaming service, Disney +. But the flotation of UK visual effects firm DNEG might just give them a way to profit from the coming war between the big streamers.

    • 12 Nov 2019

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SOUTHPAW

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LEADERS

  • ESG ratings belong on every term sheet

    KfW’s inclusion of ESG ratings in a term sheet might seem a superficial step — just one more disclosure of another piece of publicly available data — but it is a step towards a more sensible system of socially responsible investment.

    • 07 Nov 2019
  • Banking Union: one step forward, one step back

    Olaf Scholz, Germany’s finance minister, was playing all of the right notes in his ode to the Banking Union this week. It is a shame they are still not in the right order.

    • 07 Nov 2019

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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.


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SSA

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All International Bonds

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 JPMorgan 353.47 1629 8.35%
2 Citi 326.07 1388 7.70%
3 Bank of America Merrill Lynch 283.34 1182 6.69%
4 Barclays 259.26 1043 6.12%
5 HSBC 207.22 1150 4.89%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 39.66 183 7.00%
2 Credit Agricole CIB 37.82 159 6.67%
3 JPMorgan 30.63 81 5.41%
4 Bank of America Merrill Lynch 26.33 79 4.65%
5 Deutsche Bank 26.03 96 4.59%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11.22 75 9.54%
2 Morgan Stanley 10.77 52 9.16%
3 Goldman Sachs 9.63 50 8.19%
4 Citi 7.78 60 6.61%
5 Bank of America Merrill Lynch 5.53 30 4.70%