• European IPO hopefuls pray for trade war lull in rush to list

    Europe's equity capital markets are heading for a crunch. Companies are set to launch a batch of IPOs so they price before investors disappear for the summer. But escalating trade tensions between China and the US threaten to rob them of their chance, writes Sam Kerr.

    16 May 2019
  • Gilt trip: investors badger UK DMO to bring green deal

    Large asset managers have urged the UK to start issuing green Gilts to support the country’s environmental initiatives and broaden the range of assets they can buy. Although the government's Green Task Force recommended the idea last year, there has been little progress since and the country’s Debt Management Office has shown little enthusiasm for the product, writes Burhan Khadbai.

    16 May 2019
  • Resurgent CMBS market no help for latest Blackstone deal

    The European CMBS market has defied its ineligibility for the European Securities and Markets Authority's (ESMA) new ‘simple, transparent and standardised’ (STS) securitization framework intended to boost confidence in the market. The asset class that appeared dead and buried after the financial crisis has outpaced other asset classes in recent times. But the resurgence did not stop one deal this week from suffering heavy investor scrutiny, writes Tom Brown.

    16 May 2019
  • Best route for City’s comeback debated

    Private debt and loans bankers are trying to work out possible approaches to the City of London Corporation’s plans to return to capital markets for the first time in a generation when it looks to raise around £1.75bn ($2.24bn) over the next three years, writes Mike Turner.

    13 May 2019
  • Walmart mulls flotation of Asda after blocked Sainsbury’s merger

    US retail giant Walmart said this week that it was exploring the possibility of an IPO of Asda, the UK supermarket, after its proposed £7.3bn takeover by rival Sainsbury’s was blocked by UK competition authorities. If the IPO does go ahead, there is likely to be little market appetite for the first major UK supermarket flotation for more than two decades.

    • 16 May 2019
  • Nestlé Skin Health LBO blockbuster steps closer as EQT wins race

    A consortium led by EQT Partners has won the auction of Nestlé Skin Health for Sfr10.2bn ($10.1bn), paving the way for what is likely to be the year’s largest leveraged buyout in Europe, and the third largest since the financial crisis, after AkzoNobel Specialty Chemicals and Refinitiv last year.

    • 16 May 2019
  • EM loan mart anticipates extended decline, bonds to reap benefits

    Emerging market loan volumes continue to suffer with year-to-date volumes down 60% from the same period in 2018. Global economic slowdown and the fear of trade wars, combined with the increasing appeal of the bond market, are dampening the prospects of recovery in the syndicated loan market in 2019.

    • 13 May 2019

COPPLESTONE'S CARTOON

 

 1605

PEOPLE & MARKETS

  • Soc Gen mandates for client selectivity

    Société Générale will take an increasingly selective approach to which of its clients are allowed the full range of its product suite, as it targets big savings in its global banking and investor solutions (GBIS) division.

    • 09 May 2019
  • UniCredit to change structure to reduce funding cost

    UniCredit provided details of its intention to strengthen its balance sheet further on Thursday, as it produced a well-received set of earnings results.

    • 09 May 2019
  • EBRD’s Africa push met with scorn in Sarajevo

    Plans by the EBRD to enter sub-Saharan Africa have been criticised by delegates at the annual meeting for taking on more responsibilities at a time when they have not completed their tasks in their original areas of operation

    • 08 May 2019

COMMENT & COLUMNS

THE GLOBALCAPITAL VIEW

  • Metro debacle shows the strength of UK banking

    Metro Bank shareholders are nursing losses of around 70% since the start of the year. But if this is the worst of UK banking’s problems right now, the sector is in pretty good shape as it faces Brexit and digital disruption.

    • 14 May 2019
  • Investors must prep for prolonged US-China hostility

    Equity investors who base their trading on the daily news flow emanating from the US and China, are going to have to accept the possibility that the relationship between the two countries will sour.

    • 14 May 2019

more Views

SOUTHPAW

  • Soc Gen revamps as Oudéa eyes revival

    Société Générale has raised the prospect of becoming the latest European bank to outsource parts of its equities business as it follows rivals with a cost-cutting drive, writes David Rothnie

    • 16 May 2019

more Southpaw


LEADERS

  • Tech unicorns are losing their sparkle

    The post-IPO performance of Uber and Lyft shares shows a new level of investor scepticism towards tech ‘unicorns’. It’s about time.

    • 16 May 2019
  • CMBS thriving without STS

    European commercial mortgage-backed securities (CMBS) have enjoyed a revival of late, despite the battering they took during the crisis years. Although regulators excluded the asset class from the Simple, Transparent and Standardised (STS) framework, it has shown that a select band of specialist investors is enough to get by in post-crisis securitization markets.

    • 16 May 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.


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 JPMorgan 157,356.37 678 8.16%
2 Citi 152,676.64 610 7.92%
3 Bank of America Merrill Lynch 124,631.28 499 6.47%
4 Barclays 122,825.35 473 6.37%
5 HSBC 99,755.18 499 5.18%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 12,891.73 34 6.67%
2 BNP Paribas 12,285.93 60 6.36%
3 UniCredit 11,196.47 58 5.79%
4 Citi 9,580.75 37 4.96%
5 Deutsche Bank 8,945.44 35 4.63%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 5,248.63 23 10.64%
2 JPMorgan 4,558.16 26 9.24%
3 Goldman Sachs 4,254.47 19 8.62%
4 Citi 3,649.88 23 7.40%
5 UBS 3,602.23 16 7.30%