Funds short Metro Bank but market confident on rights issue

Metro Bank has come under pressure from investors building short positions against it in recent days, but sources are still confident in its chances of executing a successful rights issue.

  • By Sam Kerr
  • 04 Mar 2019

Short positions in Metro Bank have grown substantially following its announcement on February 26 that it had secured a standby underwriting agreement for a £350m cash call from RBC Capital Markets, Jefferies, and Keefe, Bruyette & Woods.

The announcement of a dilutive rights issue followed a revelation ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 299,908.40 1348 8.58%
2 Citi 269,633.69 1139 7.71%
3 Bank of America Merrill Lynch 233,702.48 955 6.69%
4 Barclays 215,977.22 873 6.18%
5 Goldman Sachs 171,316.37 716 4.90%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 34,547.72 148 7.49%
2 Credit Agricole CIB 33,319.19 143 7.23%
3 JPMorgan 25,404.62 68 5.51%
4 Bank of America Merrill Lynch 23,368.44 65 5.07%
5 SG Corporate & Investment Banking 22,565.04 105 4.89%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 9,273.57 56 10.30%
2 Morgan Stanley 8,122.33 40 9.02%
3 Goldman Sachs 7,738.32 41 8.59%
4 Citi 6,426.54 47 7.14%
5 UBS 4,913.18 26 5.46%