• Shock! Gasp! Cliffhanger!

    No nugget of information gleaned from an emerging market banker has ever been ever more unexpected.

    28 Nov 2014

  • Angel Trains on track with £1.16bn loan refinancing

    The Angel Trains Group, a UK rolling stock leasing company, signed a refinancing loan totalling £1.16bn on Friday. The loan comprises £125m of junior bank debt and just over £1bn of senior bank debt.

    28 Nov 2014

  • M&A boosts Schuldschein issuance to €11bn in 2014

    Bankers in the Schuldschein market are expecting up to another €1bn of issuance this year after United Internet brought a whopper €600m loan, alongside a run of other large deals in 2014 from issuers such as Fresenius, Axel Springer, B Braun and Fraport.

    28 Nov 2014

  • EnQuest bonds tumble on oil price fall, retail worst hit, as Towergate talks begin

    Bonds of UK oil producer EnQuest have plummeted, echoing the falls of Abengoa and Towergate, in a month in which high yield investors have been hypersensitive to macroeconomic threats and accounting uncertainties.

    28 Nov 2014

  • RPC refinances revolver to £490m for Promens acquisition

    RPC, a plastic packaging manufacturer in the UK, has refinanced a revolving credit facility to £490m as it looks to buy Icelandic competitor Promens.

    28 Nov 2014

  • Funding scorecard: European supranationals and agencies

    This week's scorecard features updates on the progress of selected European supranationals and agencies through their funding targets for the year. Read on to see which have room for a little more funding in 2014.

    28 Nov 2014

  • Spanish regions tap market and there’s more to come

    The Community of Aragon has become the second Spanish region to bring a deal to the capital markets since European Central Bank president Mario Draghi made dovish comments late last week. And with the Spanish sovereign’s yields hitting record lows this week, there could be more sub-sovereign action before the year is out.

    28 Nov 2014

  • Secondary pricing update: featuring CDP, EBRD and L-Bank

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

    28 Nov 2014

  • Rabobank and BNP Paribas return to Aussie, Kiwi dollars

    Rabobank and BNP Paribas tapped antipodean currencies for a trio of deals in both kangaroo and EMTN format this week.

    28 Nov 2014

  • Metinvest finally receives approval to exchange bonds

    Metinvest has received bondholder consent to exchange its $500m 10.25% 2015s after a lengthy approval process – including one amendment to terms and a deadline extension – which began on October 21.

    28 Nov 2014

  • Akbank to raise euros in Germany

    Akbank’s German subsidiary, Akbank AG, will begin roadshowing its inaugural bond with investor meetings next week. But with few EM banks issuing from developed market subsidiaries, the price discovery process will be more difficult.

    28 Nov 2014

  • NIBC retains fifth Essence RMBS

    NIBC Bank has retained the fifth securitization of prime Dutch mortgages from its Essence platform, from which it has previously placed deals privately.

    28 Nov 2014

  • Peer-to-peer securitization: disruption hits the mass market

    Marketplace lending has attracted the interest of institutional investors in the US, who now buy more loans than the original retail investor ‘peers’. Securitization issuance is the next logical step, but the market’s unique dynamics make it hard to assess the risks involved, writes Will Caiger-Smith.

    28 Nov 2014

  • Unique dynamics, unique risks: ABS market offers scale in P2P

    The peer-to-peer or marketplace lending market has ballooned in 2014, with new platforms set up almost every week and a multitude of service providers springing up to develop a functional infrastructure around the asset class. The market is lacking one thing, though — a cheaper form of financing.

    28 Nov 2014

  • Transparency, meet technology: building more efficient markets

    The nature of securitization means there is more data to sift through and more links in the chain than most other part of the capital markets. The fact that these processes can be so time consuming goes some way to explaining the products’ role in the financial crisis. But technology can lower those barriers, writes Will Caiger-Smith.

    28 Nov 2014

  • Malakoff’s $1bn relisting in showdown with 1MDB

    Malaysian conglomerate MMC Corp is relisting its power arm Malakoff Corp in an IPO that could fetch over $1bn, setting the stage for a showdown between two jumbo Malaysian listings of energy companies in the first half of 2015.

    28 Nov 2014

  • Peer-to-peer expansion reaches Europe

    With peer-to-peer lending securitizations going mainstream in the US, many are getting excited about the approach of a similar tipping point in Europe. But investment bankers and institutional investors are going to have to get their heads around some cultural differences this side of the pond before the trend takes hold. Tom Porter reports.

    28 Nov 2014

  • Make space for the anti-Space Invaders

    As traditional consumer lenders are being squeezed by increased regulatory costs and operational inefficiencies, disruptive start-ups — many of them on the US West Coast — are taking their place. The marketplace lending movement and its technology-first attitude is poised to spread through the financial sector like wildfire. Will Caiger-Smith reports.

    28 Nov 2014

  • Carnival Group fetches Rmb500m from debut bond

    Chinese real estate developer Carnival Group International Holdings tapped the offshore debt market for the first time on November 27, raising Rmb500m ($81.5m) via a dim sum bond.

    28 Nov 2014

  • ASIMCO $120m dividend recap gets three banks

    Three banks are looking to join a $120m dividend recap loan for diesel engine component maker ASIMCO Technologies. While one has received board approval for the transaction, two have obtained credit approval and are awaiting board approval, said a banker.

    28 Nov 2014

  • China rate cut gets BoCom tight pricing for Formosa, but not as tight as it wanted

    China’s recent surprise interest rate cuts and a conservative approach to deal size helped Bank of Communications Taipei Branch to price its Rmb2bn ($325m) Formosa bond tightly on Thursday. The deal, which was only the second four-tranche Formosa, was the first from a Chinese bank to feature a domestic Taiwan rating — although bankers said this had little practical effect on investors, who still looked at the parent’s credit.

    28 Nov 2014

  • EIB supports Santander SME trade after €1bn commitment

    The European Investment Bank has bought a portion of the senior notes of Santander’s FTA Pymes 10 SME CLO transaction, on the same day it extended a new €1bn loan to the Instituto de Crédito Oficial to provide investment financing for SMEs and midcaps in Spain.

    28 Nov 2014

  • RMB round-up: November 28, 2014

    In this round-up: PBoC issues RQDII programme rules, RMB is used for more than 10% of China payments in 50 countries, 30 central banks hold RMB in their currency reserves, and Hong Kong renews its RMB swap agreement with China.

    28 Nov 2014

  • Shinhan BNP gets first Korean RQFII quota; programme expands to Rmb300bn

    The RMB Qualified Foreign Institutional Investor (RQFII) programme grew again in November, with China’s State Administration of Foreign Exchange (Safe) giving out four new licences and the China Securities Regulatory Commission (CSRC) assigning a further Rmb4bn in quotas to two institutional investors.

    28 Nov 2014

  • Australia to reap big benefits from RMB hub status and FTA, says Westpac

    Australia's newly granted offshore renminbi hub status will enable it to build stronger cross-border linkages with China, its largest two-way trading partner, with big benefits expected for international RMB trade and investment, says Andy Whitford, Westpac Institutional Bank’s head of Greater China.

    28 Nov 2014

  • Updated: ANZ appoints Bajaj new India CEO

    ANZ has strengthened its India franchise with the appointment of a senior banker from Credit Suisse as its new CEO of India.

    28 Nov 2014

  • BAIC Motor gets approval for $1.5bn IPO

    Chinese passenger vehicle manufacturer BAIC Motor Corp is to start tapping investor interest for an up to $1.5bn IPO in Hong Kong on Monday after receiving listing approval.

    28 Nov 2014

  • SGX to launch OTC Asian bond trading platform

    The Singapore Exchange (SGX) is set to launch a dedicated over-the-counter (OTC) trading platform for Asian corporate bonds by the middle of 2015, the exchange announced on November 26.

    28 Nov 2014

  • Chalco to return with credit-enhanced bond

    Aluminum Corporation of China (Chalco) is set to go on the road for its second international bond of the year with a series of investor meetings next week. But unlike its earlier deal, Chalco will be backing on a standby letter of credit (SBLC) to spur demand.

    28 Nov 2014

  • HPCL seals $300m loan with 17 lenders

    India’s Hindustan Petroleum Corp has closed its $300m fundraising with commitments worth $225m pouring in from 12 lenders during general syndication. Though it got off to a slow start, the deal gained traction once lenders took into consideration the thinning in pricing for Indian state owned names after it launched.

    28 Nov 2014

  • Hsin Chong targets $344m rights and placement

    Hsin Chong Construction Group is planning a rights issue and placement that could raise up to HK$2.67bn ($344.33m) in proceeds to fund its property development activities in China.

    28 Nov 2014

  • Thailand completes first bond switch with one-into-four deal

    The Kingdom of Thailand has completed its first asset liability management exercise, using a one-into-four bond switch to reduce some of its short term debt.

    28 Nov 2014

  • BNPP’s Leblanc to leave in January

    Didier Leblanc, head of loan syndication and trading, Asia Pacific, at BNP Paribas, will be leaving the bank in January, according to a source.

    28 Nov 2014

  • ECB ‘killing the market’ but Cariparma still limbering up

    With a pall of misery hanging over the covered bond market, Cariparma’s debut covered bond, which could be launched next week, could be the final primary issue of the year.

    28 Nov 2014

  • NordLB expects €131.5bn for 2015

    NordLB research analysts have published their covered bond outlook for 2015, predicting €131.5bn in publicly placed benchmark issuance. This year to date they count €109.2bn, well ahead of 2013’s €93.7bn.

    28 Nov 2014

  • DRB-HICOM sets up MR2bn musharaka programme

    The Malaysian conglomerate DRB-HICOM has been given permission by the Malaysian Securities Commission to establish a MR2bn ($597m) musharaka programme.

    28 Nov 2014

  • Meezan gets state bank approval to buy HSBC subsidiary

    The State Bank of Pakistan has given permission to Meezan Bank to negotiate a possible acquisition of the Pakistan operations of HSBC Bank Oman (HBON). Meezan Bank is allowed by the state bank to undertake the due diligence and evaluation process for the transaction.

    28 Nov 2014

  • First for UK as Shariah compliant seed fund launches

    IFAAS, an Islamic consultancy, and Portillion Capital, an independent Islamic finance provider, have launched what they say is the UK’s first Shariah compliant seed enterprise investment scheme fund (SEIS).

    28 Nov 2014

  • Heroic double header for soaring sukuk market

    A triumphant sovereign return, and an innovative socially responsible deal helped the sukuk market smash through its previous record year for issuance volumes. Unusual but impressive trades from Pakistan and the International Finance Facility for Immunisation (IFFIm) helped the growing asset class beat its previous annual dollar issuance record set in 2012 and put the gloss on a burgeoning fourth quarter run of deals.

    28 Nov 2014

  • LVMH woos private banks to bag A$ debut

    LVMH Moët Hennessy Louis Vuitton took advantage of strong demand for its name among private bank buyers to make a rare corporate debut in Australian dollars at the end of last week.

    27 Nov 2014

  • World’s corporations set to keep flocking to euro market

    Issuance in the European investment grade corporate bond market has skyrocketed in November, and the attractive spreads on offer are luring in not just European companies but issuers from around the world. Richard Metcalf reports.

    27 Nov 2014

  • Chile assesses options for bond market return

    Chile, which met European investors this week and will head to the US next week, is yet to make a decision on currency or maturity, according to a banker working with the sovereign.

    27 Nov 2014

  • Cosan to provide Brazil test post positive finmin choice

    Brazilian president Dilma Rousseff gave New York-based LatAm bankers the Thanksgiving gift they so wanted by naming Bradesco Asset Management head Joaquim Levy as her finance minister on Thursday, confirming a week of speculation that had led to a slight recovery in Brazilian bond prices.

    27 Nov 2014

  • Stop whining, start building — liquidity isn’t coming back

    Get ready for an earth shattering revelation: liquidity in the bond market isn’t great. Whether you look at bid-offer spreads, volumes, dealer inventories or listen incredulously to war stories about how far $1m of sell orders moves the price these days (GlobalCapital’s coverage of the Petrobras scandal has a good example), the conclusion is inescapable, and sure enough, it was the top headline out of ICMA’s Secondary Market Survey.

    27 Nov 2014

  • Tessenderlo launches €174m rights issue

    Tessenderlo Chemie, the Belgian chemicals firm, launched a rights offering of up to around €174m on Wednesday, in part to strengthen the firm’s balance sheet ahead of anticipated debt refinancing in 2015 and 2016.

    27 Nov 2014

  • Gearing to turn Juncker’s €21bn into €315bn

    The European Commission and European Investment Bank announced on Wednesday their much heralded plan to boost investment in Europe by €315bn, following an initiative by Jean-Claude Juncker, the incoming EC president.

    27 Nov 2014

  • Clarkson issues new shares to fund Platou takeover

    Clarkson, the London-listed ship broker, raised £31.47m on Thursday through the sale of new shares in an accelerated bookbuild, as it prepares funds for the takeover of Norwegian peer RS Platou.

    27 Nov 2014

  • MTN Leak: Mo-rwegian Mo-vember

    A Kensington mansion, varying qualities of Movember moustaches and a banker-on-banker man-crush. What else could this be but Kommunalbanken’s annual reception at the Norwegian ambassador’s residence?

    27 Nov 2014

  • United Internet gets largest Schuldschein loan since 2010

    United Internet, the German internet services provider, allocated a €600m Schuldschein issue this week, the largest since 2010.

    27 Nov 2014

  • Hybrids look hot as Telefónica prices tight and more deals follow

    Telefónica, the Spanish broadband and mobile phone company, issued an €850m hybrid bond on Thursday. The perpetual non-call five year deal was priced just 3bp outside the issuer’s curve, according to one banker, a good omen for hybrids being roadshowed by Volvo and Santos.

    27 Nov 2014

  • Meda will syndicate €3bn loan for Rottapharm deal next week

    Swedish pharmaceutical company Meda has completed the early bird syndication of its Skr28bn (€3.03bn) loan to buy Rottapharm Madaus, according to a banker at one of the leads.

    27 Nov 2014

  • QBE Insurance USD700m 6.75% Dec 44 T2

    27 Nov 2014

  • M&A volume already 30% ahead of 2013

    The value of global mergers and acquisitions in the first nine months of 2014 is already 30% higher than 2013's total, but the syndicated loan market will not necessarily reap the benefits of the high deal flow, according to a report by Deloitte.

    27 Nov 2014

  • BNZ EUR300m FRN Dec 19

    27 Nov 2014

  • Heroic double header for soaring sukuk market

    A triumphant sovereign return, and an innovative socially responsible deal helped the sukuk market smash through its previous record year for issuance volumes. Unusual but impressive trades from Pakistan and the International Finance Facility for Immunisation (IFFIm) helped the growing asset class beat its previous annual dollar issuance record set in 2012 and put the gloss on a burgeoning fourth quarter run of deals.

    27 Nov 2014

  • Draghi boosts periphery prospects for 2015

    Mario Draghi is certain to be on many eurozone funding officials’ Christmas card lists, after the European Central Bank president’s latest dovish comments helped issuers hit record low yields and print lowest ever coupons this week.

    27 Nov 2014

  • There’s a hidden warning in the Petrobras scandal — and it has nothing to do with corruption

    Bonds of Brazilian corporates affected by the Petrobras corruption scandal have flunked in the last week. But prices jumping about at such speed tells us less about the credits in question than about a broader market malaise.

    27 Nov 2014

  • Siemens Audiology launches its €1.06bn loan and bond package

    Siemens Audiology Solutions, the hearing aid maker, has launched a €1.06bn bond and cov-lite loan package that will back its buyout by EQT.

    27 Nov 2014

  • Investment grade loans, news in brief - November 27, 2014

    27 Nov 2014

  • Senior turns sour as investors shun five FIG deals in a week

    Supportive secondary markets and tightening credit indices have deceived issuers of senior and covered bonds in the FIG market, causing five to pull the plug on new transactions over the span of five trading days. That left market participants wondering if the year is over for FIG issuance, as investors happy with returns on the year have avoided taking on further risk — despite issuers offering spreads that have previously led to successful deals, writes Nathan Collins.

    27 Nov 2014

  • Carlyle steps up African interests with Tiger Automotive acquisition

    Carlyle Group and Old Mutual Private Equity bought Tiger Automotive, the South African tyre retailer and wholesaler, on Wednesday. It is Carlyle's second African investment this week.

    27 Nov 2014

  • Crowding out protests grow loud with ECB playing in primary ABS

    Delta Lloyd’s swapless Dutch RMBS became the European Central Bank’s first primary market ABS investment this week as the central bank tried to kick start the ABS portion of its purchase programme. But fears that participation in the sale will crowd out private investors have already been realised, some bankers say.

    27 Nov 2014

  • Kexim makes long awaited C$ debut

    Korea EximBank made a successful debut in Canadian dollars this week, easily topping its target size.

    27 Nov 2014

  • FleetPartners diversifies Aussie supply

    Australian fleet lease firm FleetPartners priced its third securitization since 2010 this week, offering investors a diversification opportunity after weeks of RMBS dominated issuance. However, Westpac is ready to redress the balance with its second RMBS of the year.

    27 Nov 2014

  • IVG deal could be final deal in promising year for CMBS

    Deutsche Bank and Bank of America Merrill Lynch have launched a long rumoured German CMBS transaction to refinance a five year loan to IVG Immobilien, which could take European supply in the recovering asset class close to €5bn for the year.

    27 Nov 2014

  • BPAA’s Voba could herald new run of periphery ABS

    A secondary reoffering of Voba RMBS bonds from Banca Popolare dell’Alto Adige could be at the head of a fresh wave of resales from periphery originators, particularly from Italy, as the secondary market effect of the European Central Bank’s purchases makes the economics of the exercise even more favourable.

    27 Nov 2014

  • Ulker, Finansbank and Garanti fuel Turkish rush

    Ülker Biscüvi, Finansbank and Garanti Bank have completed loans in the past week, adding to the busy fourth quarter run for Turkish borrowers.

    27 Nov 2014

  • DCM could shrug off Liikanen threat

    A study of capital markets banks by PricewaterhouseCoopers shows debt origination businesses suffering the least from EU proposals to separate retail and investment banking. The study, commissioned by the Association for Financial Markets in Europe, estimates a cost impact of around €1bn on DCM and loans. This is larger in absolute terms than the €600m it estimates for M&A and ECM — but leaves DCM with a 65% pretax return, against 27% for M&A and ECM.

    27 Nov 2014

  • German banks muscled out of Mittelstand deals

    Low interest rates and tight margins are forcing international banks to find ever more diverse places to deploy their balance sheets, and the German Mittelstand is awash with new international lenders keen to do business.

    27 Nov 2014

  • CDON rights issue coming

    CDON Group, which claims to be the Nordic region’s leading ecommerce company, published on Thursday the prospectus for its one-for-two rights issue, in which it is hoping to raise about Skr647m (€70m) before transaction costs.

    27 Nov 2014

  • People Moves in Brief

    RenCap hires Gladkov — Giesen heads to Standard Bank — Rabo loses sole MTN trader

    27 Nov 2014

  • Clydesdale hits sterling with RMBS duo

    Clydesdale Bank is ready to print its second euro-sterling dual tranche UK RMBS transaction of the year, despite sterling proving a tricky hunting ground for the last couple of issuers that ventured into it with mortgage-backed bonds.

    27 Nov 2014

  • Mota-Engil Africa floats

    Mota-Engil, the Portuguese construction company, has floated a small stake in its African subsidiary on Euronext Amsterdam, through a spin-off without selling any stock.

    27 Nov 2014

  • Leveraged loans - news in brief, November 28, 2014

    Vista - Alcentra - Irish Funds Industry Association

    27 Nov 2014

  • Periphery ABS needs ECB to buy mezzanine

    The European Central Bank’s purchases will have to stimulate mezzanine sales to grant banks the capital relief they need. But Fitch believes periphery lenders are at a disadvantage to their core counterparts in that respect.

    27 Nov 2014

  • Lessons to learn for FIG

    Let’s hope FIG issuers learn their lesson from the avalanche of pulled senior unsecured deals over the last two weeks. One failed deal is unfortunate, but four looks careless.

    27 Nov 2014

  • Onex gives SIG Combibloc banks festive cheer with €3.75bn buyout

    Onex, the Canadian private equity firm, has acquired SIG Combibloc, the Swiss drinks carton maker, for €3.75bn and confirmed 10 banks that will arrange the leveraged buyout.

    27 Nov 2014

  • MTN dealer exits Rabobank

    Mariam Abraham, a medium term note and private placement dealer at Rabobank International in London, left the bank last week, GlobalCapital understands.

    27 Nov 2014

  • Issuers turn tap happy in euros

    A supranational and an agency nipped in to print tightly priced taps of euro-denominated debt this week.

    27 Nov 2014

  • EDC ends 2014 on a high with curve busting deal

    Export Development Canada left US dollar investors with a sweet taste when it issued the last expected dollar benchmark of 2014. It printed a deal in line with — or slightly through — its curve that was still well oversubscribed and traded tighter versus Treasuries in secondary.

    27 Nov 2014

  • French reforms to reshape regions

    A cost saving measure from the French government could mean that the French sub-sovereign debt market could be unrecognisable in a few years.

    27 Nov 2014

  • Bulgaria plans Lev3bn bridge loan ahead of 2015 bond

    Bulgaria is looking to raise a medium term bridge loan of as much as Lev3bn ($1.92bn) in international markets ahead of a government bond issue next year.

    27 Nov 2014

  • HSBC shifts North American SSA DCM to London office

    HSBC has moved the public sector DCM coverage it had in New York to London. The move affects Kevin Galligan, who was told of the decision last week, it is understood.

    27 Nov 2014

  • Banks fancy United Biscuits as Yildiz relationship tempts

    United Biscuits drew a flock of lenders to the bank meeting on Friday for its £985m-equivalent loan for its acquisition by Yıldız of Turkey. Banks in particular are eager to gain a relationship with a new company in the European leveraged finance market.

    27 Nov 2014

  • BNZ and Rabo make sole senior sales in tough week

    Bank of New Zealand and Rabobank navigated a tricky senior unsecured market for financials this week, selling the only deals of the week on Monday.

    27 Nov 2014

  • Bankers following Christ's guidance

    German jewellery chain Christ is allocating its €220m acquisition loan this week, in a bank-friendly deal that was priced in line with guidance.

    27 Nov 2014

  • Spie seeks consent on €2bn refi while launching €725m loan

    Spie, the French engineering and communications firm, has launched a €725m loan to refinance its debt structure and pay a dividend.

    27 Nov 2014

  • High yield’s drought divides opinion: is it fear or just a rest?

    With Europe’s high yield market all but becalmed after the quietest November for new issuance for five years, market participants are trying to work out how serious the market’s plight is.

    27 Nov 2014

  • Cattolica gets strong take-up on rights issue

    Società Cattolica di Assicurazione, the Italian insurance company, received strong demand for its €500m rights issue from investors, after an initially sharp market reaction to the planned capital raising.

    27 Nov 2014

  • Hedge funds eye Main against swaps in RV trade

    Hedge funds are eyeing a relative value strategy playing the divergence between iTraxx Main and 10 year swap spreads.

    27 Nov 2014

  • Unrated John Lewis wins broad interest for £300m 20 year bond

    UK department store chain John Lewis issued a £300m 20 year bond comfortably on Thursday, getting double the volume of orders needed, despite not having a rating.

    27 Nov 2014

  • Covered bonds hit the skids as OP scrapes by and AIB is postponed

    After months of spread tightening and an unremitting stream of successful deals, the positive mood in the primary covered bond market finally broke this week. Amid a weakening secondary market, OP Mortgage Bank only just managed to get a deal away and AIB Mortgage Bank became the only covered bond issuer to postpone a deal this year.

    27 Nov 2014

  • Compression set to tear up trading rule book

    Compression — a technique for reducing the numbers of trade in a portfolio while keeping the same risk profile — could change the way investors trade derivatives as greater numbers look to the balance sheet enhancing service to reduce their notional outstanding, according to Daniel Maguire, global head of SwapClear.

    27 Nov 2014

  • QBE manages price expectations to price PNV trade

    QBE Insurance braved it alone in the subordinated market this week as it became the second Australian financial to tap the dollar market for a tier two bond that would convert to equity or write down upon point of non-viability (PNV).

    27 Nov 2014

  • Dubai Parks moves step closer to listing

    Dubai Parks and Resorts, a subsidiary of Meraas Holding, on Thursday closed the subscription period for the institutional tranche of its $688m public offering on the Dubai Financial Market.

    27 Nov 2014

  • Belgium’s Eandis raises €400m with 12yr

    Eandis, which operates gas and electricity grids in the Flanders region of Belgium, has issued a €400m 12 year bond to fund in part the acquisition of Electrabel’s 21% share in itself.

    27 Nov 2014

  • Molony heads to Santander for FIG

    Ben Molony, a FIG DCM banker from Citi, will be joining Santander Global Banking and Markets.

    27 Nov 2014

  • African sovereigns sneak in before year end shutdown

    Emerging market bankers believe there is only around a fortnight left for CEEMEA borrowers to tap the market. But investors showed they were still keen active this week as two African sovereigns approached the market — Kenya printing a tap of the $2bn dual trancher it sold in June and Ethiopia announcing roadshow dates for a debut bond that bankers away from the deal said is likely to be a $1bn 10 year.

    27 Nov 2014

  • Cades ratchets in pricing versus sovereign

    Caisse d’Amortissement de la Dette Sociale printed a €500m tap of a short-dated note at a skinny spread over its sovereign on Thursday.

    27 Nov 2014

  • Italy hits record yield lows amid plans for dollar deal

    Italy hit its lowest five and 10 year yields of the eurozone era at auction on Thursday, as the country benefited from more hints from the European Central Bank that it is preparing to launch sovereign quantitative easing. The auctions came as the Italian Treasury worked on a plan to shift some of the country’s regional debt onto the central bank balance sheet and outlined plans for a return to the dollar market next year.

    27 Nov 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%