ISDA makes move on CDS reform, targeting manufactured defaults

The International Swaps and Derivatives Association (ISDA) is planning to bring in new safeguards to clamp down on credit default swaps (CDSs) being used to trigger manufactured defaults.

  • By GlobalCapital
  • 07 Mar 2019
Proposals from the ISDA working group, which includes representatives from Goldman Sachs and Apollo Global Management, are intended to end a controversial strategy that has been used by certain hedge funds. This comprises commercially viable companies being encouraged to file for bankruptcy in return for favourable financing terms, ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 100,398.91 396 8.28%
2 Citi 94,439.97 349 7.79%
3 Bank of America Merrill Lynch 81,085.67 306 6.69%
4 Barclays 78,659.06 283 6.49%
5 HSBC 65,130.98 315 5.37%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 8,556.66 16 10.43%
2 Deutsche Bank 5,064.63 12 6.17%
3 Commerzbank Group 4,780.90 20 5.83%
4 BNP Paribas 4,451.03 21 5.43%
5 Citi 3,873.29 11 4.72%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 2,316.87 11 11.60%
2 Morgan Stanley 1,958.99 12 9.81%
3 Bank of America Merrill Lynch 1,598.24 7 8.00%
4 JPMorgan 1,371.27 7 6.86%
5 UBS 1,219.50 7 6.10%