• NZ DMO and Renten hit non-core dollars

    A quiet week for core markets could be niche currencies’ gain, with New Zealand and Rentenbank both set to sell new long dated prints on Wednesday.

    30 Jun 2014

  • IFC opens 2014-2015 funding programme with dollar mandate

    International Finance Corporation has wasted no time in kicking off its 2014-2015 funding programme. It mandated banks to run a long five year global syndication on Tuesday afternoon — the first day of its new fiscal year.

    30 Jun 2014

  • EBA delivers best practice guidelines

    The European Banking Authority published its first comprehensive overview identifying the key features and practices of a prudentially sound covered bond market on Tuesday. The report provides advice to other regulators on the conditions that would justify the market’s continued preferential risk weight treatment.

    30 Jun 2014

  • CIBC set to join TD

    Canadian Imperial Bank of Commerce recently updated its covered bond prospectus, giving rise to speculation that it could return to the covered bond market this year. CIBC is only one of two Canadian banks that have not issued in euros in 2014 and was last seen in the market in July 2013.

    30 Jun 2014

  • XL Group extends Islamic cover to financial institutions

    Insurance company XL Group has extended its support for Cobalt Underwriting, a Shariah compliant managing general agency, with cover for financial lines products spanning financial institutions, professional indemnity and managing liability.

    30 Jun 2014

  • World Bank hopes for follow ups to cat bond debut

    World Bank sold its first ever catastrophe bond on Monday, a note designed to help provide funds to Caribbean countries in the case of a natural disaster. The issuer is hoping to sell further catastrophe bonds in the future, in response to growing investor demand for the asset class.

    30 Jun 2014

  • Pfandbrief foreign asset arrears up 40%, Moody’s say

    Arrears in foreign assets backing German mortgage Pfandbrief increased by 40% in the first quarter of 2014, according to Moody’s, although the share of foreign mortgages in Pfandbrief cover pools is on a steady decline.

    30 Jun 2014

  • Islamic Bank of Britain accredits pension scheme

    Islamic Bank of Britain, the UK’s only retail Islamic bank, has accredited a Shariah compliant pension scheme.

    30 Jun 2014

  • Garanti final yield guidance set at 3.5%, lack of tightening surprises

    Garanti Bank has set final yield guidance for its five year €500m no grow bond at 3.5%, in line with price guidance earlier in the day. But some rival bankers said they had expected to see a tighter print.

    30 Jun 2014

  • Madrid plans euro syndication

    The Community of Madrid is planning a syndication that could come as soon as next week, according to a funding official at the region’s ministry of finance.

    30 Jun 2014

  • Mashreqbank signs first loan for seven years at $500m

    Dubai's Mashreqbank has ended a seven year absence from the loan market by signing a $500m three year deal.

    30 Jun 2014

  • United Arab Bank signs debut Islamic financing

    United Arab Bank has signed its first ever Shariah-compliant financing agreement – a three year $100m murabaha facility with four Gulf banks.

    30 Jun 2014

  • South Africa still set on sukuk despite conventional bond

    The Republic of South Africa remains determined to issue a debut sovereign sukuk, despite delays to the plan, economic problems and its decision to mandate banks for a conventional foreign currency bond.

    30 Jun 2014

  • Markit plans CDS index option pricing improvement

    Data provider Markit is planning to provide implied volatility data on credit default swap index options in Q3, in a bid to provide clients with greater price transparency.

    30 Jun 2014

  • CIT to sell first aircraft ABS since 2008

    Commercial bank CIT Group is tapping into securitization markets with its first aircraft ABS since 2008, at a time when investors are searching for higher-yielding supply and new issuance for aircraft deals is trailing analysts’ expectations.

    30 Jun 2014

  • Analysts warn on softer spreads, as Deutsche tees up Tralee III

    As Deutsche Bank continues preparing new CLOs for Par-Four Investment Management and Crescent Capital, the US CLO market seems impervious to the summer slowdown that is taking hold in other securitized products. But increased issuance this year could come at the cost of softer spreads in the higher reaches of the capital stack unless the investor base deepens, said analysts.

    30 Jun 2014

  • Canada further amends derivatives TR rules

    The Ontario Securities Commission has released a second set of amendments to its rule on Trade Repositories and Derivatives Data Reporting that will allow parties to designate a single reporting party for dealer-to-dealer trades and for non-dealer-to-non-dealer trades.

    30 Jun 2014

  • CFTC extends reporting relief over privacy concerns

    The US Commodity Futures Trading Commission has extended relief allowing some counterparties to mask their identities when reporting US trades to data repositories.

    30 Jun 2014

  • ArcelorMittal gets €600m bond in tight but cool market

    ArcelorMittal is an archetypal crossover credit, having been downgraded from investment grade to Ba1/BB+/BB+. The steelmaker’s ratings from Moody’s and Standard & Poor’s are on negative outlook.

    30 Jun 2014

  • Robert Bosch cruises to €750m with small NIP

    Corporate credit spreads in Europe are about as tight as they have been in this economic cycle, yet this week’s new issues — including a rare issue from Robert Bosch — suggested investors are exercising discrimination.

    30 Jun 2014

  • ‘Tough credit’ Morrisons sells £300m 15 year

    Wm Morrison Supermarkets, the UK’s fourth largest food retailer, issued a £300m 15 year bond last Friday (June 27), which reaffirmed the bond market’s continued support of the company despite its widely known operating difficulties.

    30 Jun 2014

  • IMO Car Wash takeover backed by €240m bond

    IMO Car Wash is to issue a €240m bond to finance its takeover by TDR Capital.

    30 Jun 2014

  • CDS notional drops

    Overall credit default swaps notional that was reported to swap data repositories last week dropped by 17% from the previous week, according to data from the International Swaps and Derivatives Association. Overall interest rates derivatives trading that was reported, however, remained relatively flat.

    30 Jun 2014

  • Debenhams increases notes by £25m

    UK retailer Debenhams priced £225m of senior notes due 2021 on Wednesday June 25. The offering was increased from the £200m originally announced due to strong investor demand.

    30 Jun 2014

  • Greece’s Titan Cement roadshows €300m bond

    Titan Cement of Greece has launched a €300m five year bond to refinance debt and for general corporate purposes.

    30 Jun 2014

  • Leonteq hires duo for structured product sales

    Leonteq Securities, formerly EFG Financial Products, has hired Walter Treur and Anders Stromberg in senior structured product positions in London.

    30 Jun 2014

  • NN Group narrows IPO pricing before Tuesday close

    Bookbuilding for NN Group’s €1.4bn IPO will be closed on Tuesday, with the new shares set to be priced within a tightened €19.50-€20.50 range.

    30 Jun 2014

  • Monte dei Paschi €5bn rights issue closes 99.85% subscribed

    Banca Monte dei Paschi di Siena’s €5bn rights issue was 99.85% subscribed by the bank’s existing investors.

    30 Jun 2014

  • Hellenic Petroleum prices €325m bond

    Hellenic Petroleum, the unrated Greek oil refiner, priced a €325m five year bond on Friday to yield 5.375%.

    30 Jun 2014

  • Zannier père buys IKKS from his children with €320m bond

    A holding company is issuing €320m of senior secured notes into an escrow account to fund the takeover of IKKS, the French clothes retailer, for a total value of €492m.

    30 Jun 2014

  • Iglo sets guidance for €1.3bn cov-lite loans, €500m bond coming

    UK frozen foods producer Iglo has set guidance on the sizes and prices of most tranches of its €1.3bn refinancing loan, which includes covenant-lite portions.

    30 Jun 2014

  • Schmolz + Bickenbach refis loan, extends ABS programme

    German-Swiss steel firm Schmolz + Bickenbach has signed a €450m refinancing loan and extended its €300m asset-backed securities programme until April 2019.

    30 Jun 2014

  • Paragon continues coaxing with buy-to-let RMBS

    Paragon Mortgages has mandated banks for its second buy-to-let RMBS sale of the year, intending to call the Paragon 16 deal it priced in 2011 as it continues to tempt investors back to its credit after not calling a number of deals at the height of the financial crisis.

    30 Jun 2014

  • Unrated waters tested by Phoenix senior

    Phoenix Group-owned PGH Capital is set to issue an unrated sterling denominated senior bond, representing the UK insurer’s debut in the bond markets under its Phoenix brand.

    30 Jun 2014

  • Once-insolvent Pfleiderer prices €321m bond to yield 8%

    German wood-based materials maker Pfleiderer priced €321m of senior secured notes on Friday at a coupon of 7.875% to yield 8%.

    30 Jun 2014

  • Macquarie may double A$500m Puma RMBS as book grows

    Macquarie is likely to increase the size of its second Puma RMBS transaction of the year this week and bring its pricing forward, after investors pushed books to over A$1bn on Monday.

    30 Jun 2014

  • Outsourcer ICS seeks £239.5m loan for buyout by Towerbrook

    Independent Clinical Services, the UK temporary staff provider for health services, is raising a £239.5m loan to back its acquisition by Towerbrook Capital Partners.

    30 Jun 2014

  • Deutsche loses CEEMEA banker

    A Russia-focused DCM banker is leaving Deutsche Bank after four years with the firm.

    30 Jun 2014

  • Too ECBeasy?

    Now that the Bank for International Settlements has made its feelings clear about the global use of prolonged monetary easing by central banks (‘Save yourselves! Stop now!’), a particular incident at last week’s Euromoney Global Borrowers and Investors Forum 2014 in London seems particularly apt.

    30 Jun 2014

  • Helios hits the road as Nigerian corps consider debuts

    Nigerian telecom company Helios Towers is meeting potential buyers across Nigeria and Europe this week ahead of an inaugural $225m bond deal. The borrower is targeting a dollar bond and starts investor meetings on Tuesday, while at least two other Nigerian corporates are planning debuts of their own.

    30 Jun 2014

  • HSBC targets UK dominance with new IB team

    HSBC has created a dedicated UK investment banking division as part of its plan to boost its market position in what it sees as one of its “home” markets.

    30 Jun 2014

  • Accordia Golf unveils pricing for $614m business trust

    Japan’s Accordia Golf has unveiled the terms of its S$782m ($614m) business trust offering, with investors expected to receive a maximum yield of 7%.

    30 Jun 2014

  • Sino-Ocean $800m nets four in general

    Property developer Sino-Ocean Land Holdings has closed the limited syndication phase of its $800m three year facility, thanks to a heavy oversubscription at the top level.

    30 Jun 2014

  • VTB looks for first post-Crimea Russian Swissie

    Russia’s VTB Bank on Friday mandated lead managers for a Swiss franc roadshow this week, paving the way for what could be the first deal in the currency from a Russian issuer since January.

    30 Jun 2014

  • China Zhongwang seals $500m three year with 20

    Aluminium manufacturer China Zhongwang Holdings has allocated its $500m three year facility, which saw 14 banks joining in syndication.

    30 Jun 2014

  • Unatrac cuts margins, lengthens tenor on $700m loan

    Unatrac, a Dubai-based Caterpillar equipment dealer, has taken advantage of the trend for companies to amend existing loans in their favour to add two years to the tenor and slash 125bp from the margin of its debut $700m loan, signed last June.

    30 Jun 2014

  • Government sells Pakistan Petroleum stake at a premium

    The Pakistan government raised Pkr15.4bn ($153m) on June 30 by selling a 3.55% stake in Pakistan Petroleum at a premium to the stock’s market price – the first time it has managed to price a privatisation at a premium.

    30 Jun 2014

  • Pbb looks to be first German bank in the green bond market

    The green bond theme is picking up steam with banks, as Deutsche Pfandbriefbank looks to become the next in a growing group of banks to issue socially responsible investment (SRI) bonds.

    30 Jun 2014

  • IFC Devt builds new loan with HK$5bn RFP

    IFC Development has issued a request for proposals to banks for a loan of at least HK$5bn ($633m) in a deal that is expected to replicate the structure of the firm’s fundraising from February 2012.

    30 Jun 2014

  • Deal competition hits Yanlord as loan cut to $385m

    Property developer Yanlord Land Group has cut the size of its fundraising to $385m from its launch size of $400m, as a combination of low pricing and competition from similar credits in the market made the deal a hard story to sell.

    30 Jun 2014

  • Luxembourg signs RMB clearing agreement, expects RQFII quota

    Renminbi internationalisation in Europe took another step forward on Sunday when the People’s Bank of China (PBoC) signed memoranda of understanding (MoUs) for RMB clearing arrangements with the central banks of Luxembourg and France, paving the way for official RMB clearing banks to be appointed for each country.

    30 Jun 2014

  • China Aircraft flies in with HK$1.03bn IPO

    China Aircraft Leasing Group has opened books for a Hong Kong IPO worth HK$1.03bn ($130m), adding to the diversity in the names that have approached the market in the past weeks.

    30 Jun 2014

  • Commerzbank and DZ team up for the little man

    Pressure prompts innovation, and the loan market is showing signs of strain beneath the growing weight of loosening terms, tight pricing and the disappearance of the syndication process in favour of club deals. It's good to see then, that two German banks can put aside their competitive streaks and join forces.

    30 Jun 2014

  • France signs agreement on RMB clearing, Switzerland looks to swap line

    The central bank governors of France and China on Sunday signed a memorandum of understanding (MoU) that will lead to the appointment of an RMB clearing bank in Paris. Switzerland, meanwhile, is laying the groundwork for its own swap line.

    30 Jun 2014

  • Rusal turns to London courts to corral holdouts into loan restructuring

    Rusal's long-running negotiations with lenders to restructure $5.15bn of pre-export finance debt reached a new stage late last week, as the Russian aluminium producer is now considering applying to UK courts to overrule the 6% minority of lenders that have refused the new terms.

    30 Jun 2014

  • Guorui takes cover at the low end of guidance

    Chinese real estate developer Guorui Properties raised HK$1.58bn ($200m) on June 27, pricing its IPO at the lower end of guidance.

    30 Jun 2014

  • Peru’s Cofide aims for dual tranche

    Peruvian government-owned development bank Corporación Financiera de Desarrollo (Cofide) is starting a roadshow on Monday ahead of a planned senior and subordinated bond issue.

    30 Jun 2014

  • Total Derivatives: Mid-sector CNY swaps to lead flattening

    With a feared Chinese quarter-end liquidity squeeze failing to materialise, those market players holding 1s/5s CNY flatteners have switched to betting on a data-driven move in the five year sector. Meanwhile, the People's Bank of China (PBoC) is moving to establish closer financial ties with Europe, writes Deirdre Yeung.

    30 Jun 2014

  • EC to adopt equivalence for some foreign CCPs

    Michel Barnier, commissioner of the European Commission, will soon make clearing rules in Japan, Singapore, Australia, Hong Kong and India equivalent with the EU’s regime, but is holding off on making the same determination for the US.

    30 Jun 2014

  • Barclays hires FX veteran Mitul Kotecha

    Barclays has appointed Mitul Kotecha to lead its Asia Pacific FX strategy team in what is a new position for the bank. He relocates from Hong Kong to Singapore and he started his job last week.

    30 Jun 2014

  • Huawei sees success with bigger $1.6bn Europe debut

    Chinese company Huawei Technologies has wrapped up syndication of its debut loan in the European market, as commitments pooled in to take the deal to a larger than targeted size of $1.6bn.

    30 Jun 2014

  • Sinomax offers investors comforting discount

    Hong Kong based Sinomax Group is in the market to raise HK$1.07bn ($136m), having started bookbuilding on June 30. It is looking to hook investors in by offering its shares at a huge discount to comparables.

    30 Jun 2014

  • Kangda overcomes peer performance to price $177m IPO at the top

    Kangda International Environmental Company has raised HK$1.4bn ($177m) from its Hong Kong IPO after pricing the transaction at the top of the guidance range. The company battled against some lukewarm market conditions on the final day of bookbuilding and pricing, but still triggered the highest clawback available after the retail tranche was more than 250 times covered.

    30 Jun 2014

  • Struggling Thai Airways meets investors for perp

    Thai Airways is meeting investors this week for its first dollar offering and has opted for a senior perpetual bond. Should a bond follow, the borrower will be only the second Thai corporate to tap the dollar hybrid market this year.

    30 Jun 2014

  • Luxembourg sukuk set for Council of State verdict

    The fate of Luxembourg’s debut sukuk plans will become clearer on Tuesday, when the government will decide whether to hold a vote on its sukuk bill after receiving comments back from the Council of State over the revised draft.

    29 Jun 2014

  • Controversy: Figsco's unanswered questions

    Well done Goldman Sachs, you’ve managed to devise a structure that has both the covered bond market and the ABS market talking at the same time. The covered bond market seems to have adopted the attitude that ‘imitation is the sincerest form of flattery, just don’t try to pass it off as a real covered bond’. The ABS market seem to have adopted an ‘anything the covered bond market can do..’ attitude.

    29 Jun 2014

  • Peripheral champions bid up

    Flows were mostly focused on buying of peripheral national champions on Monday, as the impending liquidity injection from the European Central Bank is expected to crimp supply prospects by more from these regions. This is especially the case in multi-Cédulus where RBS research picked 10 prospective deals that may outperform. In the primary market, talk was focussed on the wrapped collateralised debt obligation being marketed to covered bond investors until Tuesday by Goldman Sachs.

    29 Jun 2014

  • KFH offloads Barwa stake for 16% profit

    Kuwait Finance House has sold a “major stake” of its ownership Qatar’s Barwa Bank.

    29 Jun 2014

  • Ithmaar warns investors of fund losses

    Bahrain’s Ithmaar Bank has warned investors that its $90m Shamil Bosphorus Modaraba Fund will not achieve its objectives and that there is a low probability that investors will be able to recoup their capital.

    29 Jun 2014

  • Punishing spread fails to dim NRW’s Swiss return

    The State of North-Rhine Westphalia returned to the Swiss franc market after an absence of more than three years on Monday, selling bonds at the long end of the curve. The deal found favour with investors on the hunt for high quality paper, despite coming at a double digit level through mid-swaps.

    29 Jun 2014

  • Unatrac cuts margins, lengthens tenor on $700m loan

    Unatrac, a Dubai-based Caterpillar equipment dealer, has taken advantage of the trend for companies to amend existing loans in their favour to add two years to the tenor and slash 125bp from the margin of its debut $700m loan, signed last June.

    29 Jun 2014

  • NRW.Bank taps Dec 2017s in line with guidance

    NRW.Bank sold a tap of its £400m December 2017 notes on Monday at a minimal new issue premium.

    29 Jun 2014

  • Mobily taps Canada for SR750m

    Saudi Arabian telecoms firm Mobily has signed a SR750m ($200m) Shariah-compliant financing agreement with Canada’s export credit agency.

    29 Jun 2014

  • MPS upgrade halves charge boosting performance outlook

    Banca Monte dei Paschi di Siena’s (MPS) covered bonds’ outperformed the market on Monday after Moody’s upgraded them from Ba1 to Baa3 following the European close on Friday. The new rating more than halves the capital charge as the bonds move into investment grade territory, opening up demand to a much larger investor base. This swell of new interest should ensure that MPS outperforms the market over the summer.

    29 Jun 2014

  • RBS cuts extend to ABS

    Two senior ABS bankers have left Royal Bank of Scotland's US headquarters in Connecticut, one month after the bank announced a strategic “repositioning” that may affect as many as 400 of its US staff.

    27 Jun 2014

  • Total brings rare sterling floater, Hammerson issues in euros

    Total and Hammerson crossed in the Channel on Tuesday, as the French oil company raised £275m of five year floaters and the UK property firm – which now has big investments in France – a €500m eight year.

    27 Jun 2014

  • Aperam increases equity-linked bond after strong investor response

    Aperam, the Luxembourg-based stainless steel producer, has raised $300m with a 2021 equity-linked bond, exercising the extension clause of the deal to increase it from $250m after a strong response from investors.

    27 Jun 2014

  • Electrica completes largest ever Romanian IPO

    Power distribution firm Electrica has completed Romania’s largest ever IPO with a Leu1.95bn ($606m) privatisation in Bucharest.

    27 Jun 2014

  • Opera Software boosts capital base with Nkr800m share issuance

    Noway’s Opera Software has raised Nkr800m ($130m) in a block trade, issuing 10m new shares.

    27 Jun 2014

  • Spanish, UK Reits shrink and cancel IPOs as demand disappoints

    Merlin Properties, a Spanish real estate investment trust, has cut the size of its planned IPO from €1.5bn to around €1.25bn after investor demand fell short of expectation.

    27 Jun 2014

  • BPCE EUR1bn 2.75% Jul 26 T2

    27 Jun 2014

  • Up, up and away: string of IPOs trade up on opening day

    Shares from French issuers Coface and Worldline and from Dutch specialist chemicals firm IMCD soared on their first day of trading on Friday, after a string of IPOs were wrapped up this week.

    27 Jun 2014

  • Aviva EUR700m 3.875% Jul 44 T2

    27 Jun 2014

  • UniCredit boosts capital through Fineco IPO

    Italy’s UniCredit has boosted its Basel III eligible common tier one equity by 14bp through the spin-off of online brokerage firm Fineco.

    27 Jun 2014

  • ASB Bank EUR300m FRN Jun 17

    27 Jun 2014

  • Russian bonds outperform CEEMEA peers in secondary

    This week’s barrage of CEEMEA bonds were all trading at or above reoffer in the secondary market on Friday, although euro deals from Russian duo Gazprombank and Sberbank led the pack in terms of performance.

    27 Jun 2014

  • RMB Round-up: June 27, 2014

    In this round-up, the RMB is now the second most used currency for China-Hong Kong cross border payments, StanChart issues Taiwan RMB predictions, JP Morgan launches a new RMB-hedged share class for a bond fund, and Australia hopes for its own RMB clearing bank soon.

    27 Jun 2014

  • Formosa lands 20 banks for $700m loan

    Formosa Steel IB has signed up a total of 20 banks for its $700m fundraising, in a deal that saw a large chunk of the lower level of the deal going to Taiwanese lenders.

    27 Jun 2014

  • Structural issues benefit India, hinder China: Invesco

    Invesco views India – its top pick in Asian equities - as a structural growth story following the recent election. However, in China economic measures will not be enough to transform the economic structure, writes Selma Piper.

    27 Jun 2014

  • LSE looks to take RMB products beyond dim sum and ETFs

    The London Stock Exchange (LSE) is looking at ways to expand its RMB offering, having established itself as a destination for offshore dim sum bond listings and RQFII Exchange Traded Funds (ETFs).

    27 Jun 2014

  • Ample demand for AmBank’s inaugural senior offering

    Rare Malaysian paper from AmBank provided investors with another much needed diversification opportunity on Thursday and strong momentum drove the issue through its comparable’s curve.

    27 Jun 2014

  • China Shengmu tapping market with organic milk play

    Mongolia based China Shengmu Organic Milk launched a HK$1.31bn ($169m) IPO on June 27, offering investors exposure to the largest organic dairy company in China.

    27 Jun 2014

  • Four banks dominate Asia’s largest Cash Management Poll

    Voters in the region’s biggest survey of cash management providers split their admiration between four international organisations.

    27 Jun 2014

  • Shanghai deposit rate reform is a sign of things to come

    Reforms that China is implementing in the Shanghai Free Trade Zone (FTZ) are beginning to trickle out elsewhere. From Friday June 27, the People’s Bank of China (PBoC) is liberalising the deposit rate on foreign currency in Shanghai.

    27 Jun 2014

  • Start spreading the news: Alibaba picks NYSE for IPO

    One week after unveiling the identities of its partners, Alibaba is back in the spotlight once again with another piece of update to its jumbo IPO. The e-commerce giant has finally chosen the New York Stock Exchange as the home for its American Depositary Shares under the ticker symbol "BABA".

    27 Jun 2014

  • IFC looking to expand RMB exposure through securitisation and panda bonds

    International Finance Corporation (IFC) is quickly establishing itself as an innovator among foreign issuers in the Chinese currency, having bagged two successful bonds since the start of the year. The most recent — a three year Rmb500m ($80m) green bond listed in London — was a first in the market. In an interview with GlobalRMB, Monish Mahurkar, director of treasury client solutions, pledges more innovation.

    27 Jun 2014

  • ONGC Videsh joins the great Asian euro road trip

    India’s ONGC Videsh is looking to make a return to the dollar market and possibly debut in euros having mandated five banks. The oil and gas company is among a growing number of Asian borrowers that are tapping European investor base as accounts seek to geographically diverse portfolios.

    27 Jun 2014

  • Tata’s Khopoli $205m loan adds one at the top

    The $205m loan for Khopoli Investments, a subsidiary of Tata Power, has netted a chunky commitment from State Bank of India at the top level.

    27 Jun 2014

  • Three help build Franshion Properties HK$4bn loan

    Two Taiwanese lenders and one Hong Kong lender are set to provide the first set of commitments for Chinese real estate company Franshion Properties’ HK$4bn ($516m) loan, which opened to the market in May.

    27 Jun 2014

  • FIGSCO: a giant warehouse that may open liquidity bottlenecks?

    Since Goldman’s FIGSCO (Fixed Income Global Structured Covered Obligation) trade hit the screen, capital markets commentators, The Cover included, have been scratching heads and stroking beards about what it actually is.

    26 Jun 2014

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%