How to fix a $512bn Libor problem

There are more than $512bn worth of bonds that will need to switch to an alternative reference rate if global regulators execute plans to ditch the Libor benchmark by the end of 2021, Linklaters said on Wednesday. GlobalCapital asked the law firm what needs to happen for a successful switchover.

  • By Nigel Owen
  • 11 Oct 2018
One option for issuers of Libor paying securities is to do nothing. Instead they will use the existing terms of a bond to dictate how future coupon payments will be made, but this is not seen as a sensible, long term option. While 20.6% of the affected bonds ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,817.74 56 8.80%
2 Citi 20,610.84 51 8.72%
3 Barclays 16,808.93 39 7.11%
4 HSBC 16,223.20 45 6.86%
5 BNP Paribas 14,082.74 30 5.95%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 56,371.71 236 6.79%
2 Credit Agricole CIB 50,115.87 240 6.03%
3 JPMorgan 46,785.38 108 5.63%
4 UniCredit 45,665.76 207 5.50%
5 SG Corporate & Investment Banking 43,321.52 173 5.21%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 114.77 1 17.52%
1 BNP Paribas 114.77 1 17.52%
3 Commerzbank Group 65.85 2 10.05%
4 Oakley Advisory Ltd 64.52 1 9.85%
4 Barclays 64.52 1 9.85%